The board of Delek US Holdings has voted to pay investors a special cash dividend of 10 cents per share at the end of next month, the third such payout since November.
In a statement, President and CEO Uzi Yemin said Delek's refineries in Arkansas and eastern Texas continue to run well, giving the board the option to put to pay out about $6 million via the dividend. Cash flow from operations in the first quarter was $45.6 million, and the company had $235 million on hand at the end of March.
“The strategic location of our refineries and our focused initiatives continue to position Delek US for success and drive strong free cash flow,” Yemin said. “These special cash dividends, in combination with our regular quarterly cash dividend, remain a clear indication of our long-standing commitment to returning value to our shareholders.”
Delek's previous special dividends were for 9 cents and 18 cents per share. Delek stock (Ticker: DK) closed Tuesday trading at $16.75 and has climbed 47 percent year to date.
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