Holly Energy Partners Declares Quarterly Distribution; 44th Consecutive Quarterly Distribution Increase
Increases quarterly distribution to $0.555 per unit from $0.545 per
unit
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has
declared a cash distribution of $0.555 per unit for the third quarter of
2015. This distribution, which represents a 6.2% increase over the
$0.5225 per unit distribution declared for the third quarter of 2014,
marks the forty-fourth consecutive quarterly increase. Holly Energy has
increased its distribution to unitholders every quarter since becoming a
publicly-traded partnership in July 2004. The distribution will be paid
on November 13, 2015 to unitholders of record on November 2, 2015.
Holly Energy plans to announce results for its third quarter of 2015 on
November 4, 2015, before the opening of trading on the NYSE. The
Partnership has scheduled a webcast at 4 p.m. Eastern time that day to
discuss financial results.
The webcast may be accessed at: https://event.webcasts.com/starthere.jsp?ei=1079834
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446‐4(b). Please note that one hundred percent
(100.0%) of Holly Energy Partner's distributions to foreign investors
are attributable to income that is effectively connected with a United
States trade or business. Accordingly, Holly Energy Partner's
distributions to foreign investors are subject to federal income tax
withholding at the highest applicable effective tax rate.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides
petroleum product and crude oil transportation, tankage and terminal
services to the petroleum industry, including HollyFrontier Corporation,
which currently owns a 39% interest (including a 2% general partner
interest), in the Partnership. The Partnership owns and operates
petroleum product and crude pipelines, tankage, terminals and loading
facilities located in Texas, New Mexico, Oklahoma, Arizona, Washington,
Kansas, Wyoming, Idaho and Utah. In addition, the Partnership owns a 75%
interest in UNEV Pipeline, LLC, the owner of a Holly Energy operated
refined products pipeline running from Salt Lake City, Utah to Las
Vegas, Nevada, and related product terminals, a 50% interest in Frontier
Pipeline Company, the owner of a 289-mile crude oil pipeline running
from Casper, Wyoming to Frontier Station, Utah, and a 25% interest in
SLC Pipeline LLC, the owner of a 95-mile intrastate pipeline system
serving refineries in the Salt Lake City, Utah area.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151022006591/en/
Copyright Business Wire 2015
Source: Business Wire
(October 22, 2015 - 4:17 PM EDT)
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