Holly Energy Partners expects cash distributions to remain same for 2020

With crude oil operations in Oklahoma and eight other states, Holly Energy Partners, L.P. announced a cash distribution for the third quarter of the year. And the distribution is unlikely to change in the coming year.

The Dallas-based company declared a distribution of $0.6725 per unit, same as the distribution declared for the second quarter of the year. The distribution will be paid Nov. 12, 2019 to unitholders of record on Oct. 28, 2019.

The board expects that for 2019 and through 2020, it will hold the quarterly distribution constant at $0.6725 per unit or $2.69 on an annualized basis. The company’s 2020 distribution guidance reflects growth from contractual tariff escalators and the recently-announced Cushing Connect join venture.

 

Holly Energy plans to announce results for its third quarter of 2019 on October 30, 2019 before the opening of trading on the NYSE. The Partnership has scheduled a webcast conference on October 30, 2019 at 4:00 p.m. Eastern time to discuss financial results.

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, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.

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