Delek Logistics declares dividend of 22.4 cents

Delek Logistics Partners declares 1st dividend, set at 22.4 cents, payable Feb. 14

Associated Press

BRENTWOOD, Tenn (AP) -- Delek Logistics Partners LP on Thursday declared its first quarterly cash distribution of 22.4 cents.

The energy infrastructure company said the distribution is payable Feb. 14 to unitholders of record on Feb. 6.

Delek Logistics is a limited partnership formed by Delek U.S. Holdings Inc. to own crude oil and refined products logistics assets in southeastern U.S. Its units began trading Nov. 2.

The company said the distribution corresponds to its minimum quarterly cash distribution of 37.5 cents, because it is prorated to reflect the date of its initial public offering.

Chairman and CEO Uzi Yemin said Delek Logistics expects to recommend its board increase the minimum distribution by 2.7 percent, to 38.5 cents, for the current quarter.

Delek Logistics units closed Thursday trading down 22 cents at $25.51, after hitting a new high of $25.90 during the session.

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