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HollyFrontier Corporation (NYSE: HFC) has entered a definitive agreement to acquire the Puget Sound Refinery and related assets from Shell for $350 million, plus hydrocarbon inventory valued at $150-180 million. The acquisition will be funded by suspending quarterly dividends for one year and utilizing cash on hand. Expected to close in Q4 2021, the transaction aims to enhance HollyFrontier's earnings per share and free cash flow. The refinery, located in Anacortes, Washington, has a capacity of 149,000 barrels per day and will provide strategic access to Canadian crude.
HollyFrontier Corporation (NYSE: HFC) is set to announce its quarterly results for the period ending March 31, 2021, on May 5, 2021, prior to the NYSE opening. A webcast conference discussing these financial results will occur on the same day at 8:30 a.m. Eastern Time. This event will be accessible through a dedicated link, and an audio archive will be available until May 19, 2021. HollyFrontier, based in Dallas, Texas, is an independent petroleum refiner and marketer, producing gasoline, diesel, jet fuel, and specialty products across multiple states and exporting to over 80 countries.
HollyFrontier Corporation (NYSE:HFC) reported a fourth quarter net loss of $(117.7) million, or $(0.73) per diluted share, compared to a profit of $60.6 million in Q4 2019. Key factors contributing to the loss included impairment charges totaling $108.4 million and a decline in transportation fuel demand due to COVID-19. Adjusted EBITDA for the refining segment plummeted to $(111.5) million from $171.6 million a year prior. Despite these challenges, the company maintained a robust balance sheet and declared a dividend of $0.35 per share, totaling $57.9 million, while cash on hand was $1,368.3 million at year-end.
HollyFrontier Corporation (NYSE: HFC) has declared a quarterly dividend of $0.35 per share, payable on March 10, 2021, to shareholders of record as of March 1, 2021. The company operates multiple refineries across the U.S. and produces refined products including gasoline and diesel fuel. HollyFrontier has expressed confidence in its capital investments and future projects, although it acknowledges potential risks related to market demand fluctuations and economic conditions influenced by the COVID-19 pandemic.
HollyFrontier Corporation (NYSE: HFC) will announce its financial results for the quarter ending December 31, 2020, on February 24, 2021, prior to NYSE trading. A webcast conference will follow at 8:30 a.m. Eastern time to discuss these results. The audio archive will be available until March 10, 2021. HollyFrontier is a Dallas-based independent petroleum refiner producing high value light products and specialized lubricants, operating refineries across several states, and exporting to over 80 countries.
HollyFrontier Corporation (NYSE: HFC) has declared a quarterly dividend of $0.35 per share, scheduled for payment on December 7, 2020. Shareholders on record as of November 23, 2020 will receive this payment. The company, based in Dallas, Texas, operates refineries in several states and produces high-value light products, including gasoline and diesel fuel. Additionally, HollyFrontier engages in lubricants production and has a stake in Holly Energy Partners, offering transportation and storage services.
HollyFrontier Corporation (NYSE:HFC) appointed Manny Fernandez to its Board of Directors, effective October 1, 2020, increasing the Board size to 11 members and independent directors to 10. Fernandez brings over 36 years of finance and accounting expertise, having retired from KPMG LLP where he served in various leadership roles, including Managing Partner of the Dallas office. He is recognized for his commitment to inclusion and diversity, receiving the Lifetime Achievement Award from the Association of Latino Professionals for America.