HollyFrontier declares special dividend

HollyFrontier declares special dividend of 50 cents per share; OKs quarterly dividend

Associated Press

DALLAS (AP) -- Oil refiner HollyFrontier's board has approved a special dividend of 50 cents per share.

The special dividend will be paid on June 10 to shareholders of record on May 29.

The Dallas company also said Thursday that its board approved a quarterly dividend of 30 cents per share. That dividend will be paid on July 3 to shareholders of record on June 12.

Last week HollyFrontier Corp. reported that its first-quarter net income rose by 38 percent on improved margins, but revenue fell with lower production. The earnings performance missed Wall Street's expectations, while revenue topped estimates.

Its shares finished at $48.43 on Wednesday. Its shares have traded in a 52-week range of $28.08 to $59.20.

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