BRENTWOOD, Tenn., Oct. 25,
2022 /PRNewswire/ -- Delek Logistics Partners, LP
(NYSE: DKL) ("Delek Logistics") today declared its quarterly cash
distribution for the third quarter 2022 of $0.99 per common limited partner unit, or
$3.96 per common limited partner unit
on an annualized basis. This distribution represents a 0.5 percent
increase from the distribution for the second quarter 2022 of
$0.985 per common limited partner
unit ($3.94 per common limited
partner unit annualized) and a 4.2 percent increase over Delek
Logistics' distribution for the third quarter 2021 of $0.95 per common limited partner unit
($3.80 per common limited partner
unit annualized). The third quarter 2022 cash distribution is
payable on November 10, 2022 to
unitholders of record on November 4,
2022.
"This distribution marks 39
consecutive quarters of increasing the quarterly payout to our
unitholders since the fourth quarter 2012. Elevated refining
margins are driving strong refinery utilization rates within the
industry, thereby creating demand for midstream infrastructure. Our
outlook remains robust with momentum in our legacy Delek Permian
Gathering business, in addition to the integration of the recently
acquired 3 Bear assets. We see opportunities to continue growing
our business and returning cash to shareholders," said Avigal
Soreq, President of Delek Logistics.
About Delek Logistics Partners,
LP
Delek Logistics Partners, LP is a midstream energy master
limited partnership headquartered in Brentwood, Tennessee. Through its owned assets
and joint ventures located primarily in and around the Permian
Basin, the Delaware Basin and
other select areas in the Gulf Coast region and giving effect to
the 3 Bear acquisition, Delek Logistics Partners, LP provides
gathering, pipeline and other transportation services primarily for
crude oil and natural gas customers, storage, wholesale marketing
and terminalling services primarily for intermediate and refined
product customers, and water disposal and recycling services. Delek
US Holdings, Inc. (NYSE: DK) ("Delek US") owns the general partner
interest as well as a majority limited partner interest in Delek
Logistics Partners, LP, and is also a significant customer.
Safe Harbor Provisions Regarding Forward-Looking
Statements
This press release contains forward-looking statements that are
based upon current expectations and involve a number of risks and
uncertainties. Statements regarding Delek Logistics' future
distributions, including the amounts and timing thereof,
utilization rates and other statements concerning current
estimates, expectations and projections about future results,
performance, prospects, opportunities, plans, actions and events
and other statements, concerns, or matters that are not historical
facts are "forward-looking statements," within the meaning of
federal securities laws. Investors are cautioned that the following
important factors, among others, may affect these forward-looking
statements: the fact that a substantial majority of Delek
Logistics' contribution margin is derived from Delek US, thereby
subjecting it to Delek US' business risks; risks and uncertainties
related to the effects of the COVID-19 pandemic; risks and costs
relating to the maintenance age and operational hazards of our
assets including, without limitation, costs, penalties, regulatory
or legal actions and other effects related to releases, spills and
other hazards inherent in transporting and storing crude oil and
intermediate and finished petroleum products; the impact of adverse
market conditions affecting the business of Delek Logistics,
including margins generated by its wholesale fuel business; adverse
changes in laws including with respect to tax and regulatory
matters and other risks as disclosed in our annual report on Form
10-K, quarterly reports on Form 10-Q and other reports and filings
with the United States Securities and Exchange Commission.
Forward-looking statements are based on information available at
the time and/or management's good faith belief with respect to
future events, and are subject to risks and uncertainties that
could cause actual results to differ materially from those
expressed in the statements. There can be no assurance that actual
results will not differ from those expected by management or
described in forward-looking statements. Delek Logistics undertakes
no obligation to update or revise such forward-looking statements
to reflect events or circumstances that occur, or which Delek
Logistics becomes aware of, after the date hereof.
Tax Considerations
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b)(4) and (d). Please note that 100
percent of Delek Logistics Partners, LP's distributions to foreign
investors are attributable to income that is effectively connected
with a United States trade or
business. Accordingly, all of Delek Logistics Partners, LP's
distributions to foreign investors are subject to federal income
tax withholding at the highest applicable effective tax rate for
individuals or corporations, as applicable. Nominees, and not Delek
Logistics Partners, LP, are treated as the withholding agents
responsible for withholding on the distributions received by them
on behalf of foreign investors.
Information about Delek Logistics Partners, LP can be found on
its website (www.deleklogistics.com), investor relations webpage
(https://www.deleklogistics.com/investor-relations), news webpage
(https://www.deleklogistics.com/news-releases) and its Twitter
account (@DelekLogistics).
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SOURCE Delek Logistics