Increases quarterly distribution to $0.6550 per unit from $0.6500 per unit
DALLAS–(BUSINESS WIRE)–The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.6550 per unit for the first quarter of 2018, a 5.6% increase compared to the $0.6200 per unit distribution declared for the first quarter of 2017. Today’s distribution is reflective of the company’s strong and stable cash generation. Holly Energy has increased its distribution to unitholders every quarter since becoming a publicly-traded partnership in July 2004, with today’s distribution marking the 54th consecutive quarterly distribution increase. The distribution will be paid on May 10, 2018 to unitholders of record on April 30, 2018.
Holly Energy plans to announce results for its first quarter of 2018 on May 1, 2018 before the opening of trading on the NYSE. Holly Energy 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=1188769&tp_key=88f117643e
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. Holly Energy, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Arizona, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.
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.