BRENTWOOD, Tenn., Jan. 23,
2023 /PRNewswire/ -- Delek Logistics Partners, LP
(NYSE: DKL) ("Delek Logistics") today declared its quarterly cash
distribution for the fourth quarter 2022 of $1.02 per common limited partner unit, or
$4.08 per common limited partner unit
on an annualized basis. This distribution represents a 3 percent
increase from the distribution for the third quarter 2021 of
$0.99 per common limited partner unit
($3.96 per common limited partner
unit annualized) and a 5 percent increase over Delek Logistics'
distribution for the fourth quarter 2021 of $0.975 per common limited partner unit
($3.90 per common limited partner
unit annualized). The fourth quarter 2022 cash distribution is
payable on February 9, 2023 to
unitholders of record on February 2,
2023.
"This is the 40th consecutive quarter we have increased the
quarterly payout to our unitholders, " said Avigal Soreq, President
of Delek Logistics. "We achieved our commitment to deliver 5
percent distribution growth in 2022. Looking forward, we see
strong momentum for DKL specifically in the Permian and Delaware
Gathering Systems where producer demand is driving increased
production volumes and creating growth opportunities. We
expect another 5 percent of distribution growth in 2023."
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 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 utilization of Delek Logistics'
assets and business performance, including margins generated by its
wholesale fuel business; risks and uncertainties related to the
integration of the 3 Bear business following the recent
acquisition; risks and uncertainties related to the effects of the
COVID-19 pandemic; uncertainties regarding future decisions by OPEC
regarding production and pricing disputes between OPEC members and
Russia; an inability of Delek US
to grow as expected as it relates to our potential future growth
opportunities, including dropdowns, and other potential benefits;
scheduled turnaround activity; the results of our investments in
joint ventures; 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