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Delek Logistics Partners, LP announced an increase in its quarterly cash distribution to $1.07 per common partner unit for the first quarter of 2024, marking a 4.4% rise from the previous year. The distribution amounts to $4.28 per common partner unit annually. The distribution will be paid on May 15, 2024, to unitholders of record on May 8, 2024. Additionally, Delek Logistics is seeking financial flexibility by filing a 'shelf' registration statement with the SEC for up to $500 million.
Delek Logistics Partners, LP ha annunciato un aumento della distribuzione trimestrale in contanti a $1.07 per unità comune del partner per il primo trimestre del 2024, segnando un incremento del 4.4% rispetto all'anno precedente. La distribuzione annuale ammonta a $4.28 per unità comune del partner. Tale distribuzione sarà pagata il 15 maggio 2024 ai possessori di record al 8 maggio 2024. Inoltre, Delek Logistics sta cercando di ottenere maggiore flessibilità finanziaria presentando alla SEC una dichiarazione di registrazione 'shelf' per un massimo di $500 milioni.
Delek Logistics Partners, LP ha anunciado un aumento en su distribución trimestral de efectivo a $1.07 por unidad común de socio para el primer trimestre de 2024, lo que representa un aumento del 4.4% respecto al año anterior. La distribución anual es de $4.28 por unidad común de socio. Dicha distribución se pagará el 15 de mayo de 2024 a los tenedores registrados el 8 de mayo de 2024. Además, Delek Logistics está buscando flexibilidad financiera al presentar una declaración de registro 'shelf' ante la SEC por un máximo de $500 millones.
Delek Logistics Partners, LP는 2024년 첫 분기에 일반 파트너 유닛당 분기별 현금 배당을 $1.07로 인상한다고 발표했으며, 이는 전년 대비 4.4% 증가한 것입니다. 연간 배당금은 일반 파트너 유닛당 $4.28입니다. 이 배당금은 2024년 5월 15일에 기록된 유닛소지자에게 지급될 예정입니다. 또한, Delek Logistics는 최대 $500백만에 이르는 '셸프' 등록 성명서를 SEC에 제출함으로써 재정적 유연성을 추구하고 있습니다.
Delek Logistics Partners, LP a annoncé une augmentation de sa distribution trimestrielle en espèces à $1.07 par unité partenaire ordinaire pour le premier trimestre de 2024, soit une hausse de 4,4 % par rapport à l'année précédente. La distribution annuelle s'élève à $4.28 par unité partenaire ordinaire. Cette distribution sera versée le 15 mai 2024 aux détenteurs inscrits le 8 mai 2024. De plus, Delek Logistics cherche à obtenir une flexibilité financière en déposant une déclaration d'enregistrement 'shelf' auprès de la SEC pour un montant allant jusqu'à $500 millions.
Delek Logistics Partners, LP hat eine Erhöhung seiner vierteljährlichen Barausschüttung auf $1.07 pro gewöhnliche Partneranteil für das erste Quartal 2024 bekanntgegeben, was einem Anstieg von 4,4% gegenüber dem Vorjahr entspricht. Die jährliche Ausschüttung beläuft sich auf $4.28 pro gewöhnliche Partneranteil. Diese Ausschüttung wird am 15. Mai 2024 an die am 8. Mai 2024 eingetragenen Anteilseigner gezahlt. Außerdem strebt Delek Logistics eine finanzielle Flexibilität an, indem es eine 'Shelf' Registrierungserklärung bei der SEC für bis zu $500 Millionen einreicht.
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Delek Logistics Partners' decision to increase their quarterly cash distribution to $1.07 is a tangible reflection of the company's current financial health and operational performance. The 4.4% increment compared to the previous year's distribution suggests a positive growth trajectory and a potentially solid revenue stream. For investors, this can be seen as a sign of confidence from the management in their ability to generate sufficient cash flow. The anticipated distribution is well above the inflation rate, indicating that the company is not only sustaining but potentially expanding its profitability margins.
The filing of a "shelf" registration statement on Form S-3 with the SEC by Delek Logistics is a strategic move. It allows the company to expedite the process of offering securities, up to $500 million, within the next three years without needing to file a new registration statement each time. For retail investors, this implies that Delek Logistics is preparing for potential capital raising activities which could involve debt or equity offerings. This financial flexibility is important for supporting growth initiatives or refinancing existing debt, though it's important to watch for dilution of shares if equity is offered.
BRENTWOOD, Tenn.--(BUSINESS WIRE)--
Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) today declared its quarterly cash distribution for the first quarter 2024 of $1.07 per common limited partner unit, or $4.28 per common limited partner unit on an annualized basis. This distribution represents a 4.4 percent increase over Delek Logistics’ distribution for the first quarter 2023 of $1.025 per common limited partner unit ($4.10 per common limited partner unit annualized). The first quarter 2024 cash distribution is payable on May 15, 2024, to unitholders of record on May 8, 2024.
Delek Logistics is also filing a “shelf” registration statement on Form S-3 with the U.S. Securities and Exchange Commission (“SEC”) to provide up to $500 million of additional financial flexibility going forward.
About Delek Logistics Partners, LP
Delek Logistics 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, Delek Logistics provides gathering, pipeline, transportation, and other services for its customers in crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling.
Delek US Holdings, Inc. (NYSE: DK) ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics and is also a significant customer.
This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning future distributions, including the amounts and timing thereof, current estimates, expectations or projections about future distributions, future financial flexibility, 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. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and investors are cautioned that risks described in Delek Logistics’ filings with the United States Securities and Exchange Commission, among others, could cause actual performance or 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.
delek logistics partners lp (nyse: dkl), headquartered in brentwood, tennessee, is a growth-oriented publicly traded master limited partnership (mlp) formed by delek us holdings in 2012 to own, operate, acquire, and construct crude oil and refined products logistics and marketing assets. a substantial majority of our existing assets are integral to the success of delek’s refining and marketing operations. we gather, transport and store crude oil and market, distribute, transport and store refined products in select regions of the southeastern united states and west texas for delek and third parties, primarily in support of delek’s refineries in tyler, texas and el dorado, arkansas.
