Dallas-based Holly Energy Partners, L.P. has declared a cash distribution of $0.575 per unit for the first quarter of 2016, That’s a 7.0% increase compared to the $0.5375 per unit distribution declared for the first quarter one year ago.
In announcing the cash distribution, Holly Energy said it was reflective of the company’s strong and stable cash generation and its efforts to seek an 8% distribution growth target. The company has increased its distribution to unitholders every quarter since it became a publicly-traded partnership in July 2004. This most recent distribution was the 46th consecutive quarter distribution increase.
Holly Energy plans to announce results for its first quarter of 2016 on May 3 before the opening of trading on the NYSE. The Partnership has also scheduled a webcast at 4 p.m. CST to discuss financial results.
