Delek Increases Quarterly Cash Distribution to $0.91

Source: www.gulfoilandgas.com 1/25/2021, Location: Europe

Delek Logistics Partners, LP declared its quarterly cash distribution for the fourth quarter 2020 of $0.91 per common limited partner unit, or $3.64 per common limited partner unit on an annualized basis. This distribution represents a 0.6 percent increase from the distribution for the third quarter 2020 of $0.905 per common limited partner unit ($3.62 per common limited partner unit annualized) and a 2.8 percent increase over Delek Logistics' distribution for the fourth quarter 2019 of $0.885 per common limited partner unit ($3.54 per common limited partner unit annualized). The fourth quarter 2020 cash distribution is payable on February 9, 2021 to unitholders of record on February 2, 2021.

"This marks the 31st consecutive quarterly increase in the cash distribution and demonstrates stability of the business despite a difficult macro energy environment. We delivered on our 5 percent distribution growth target for 2020, while exceeding our year-end guidance levels for both distribution coverage and leverage ratios," said Uzi Yemin, Chairman, President and Chief Executive Officer of Delek Logistics.


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