Holly Energy Partners, L.P. announced approval of a 4th quarter cash distribution of 35 cents a unit.
The company’s board of directors okayed the distribution to be paid Feb. 12 to unitholders of record on Feb. 2, 2021.
Holly Energy said it expects to hold the quarterly distribution constant at 35 cents per unit for the remainder of 2021. It translates into $1.40 on an annualized basis.
The firm also promised to remain committed to its existing distribution strategy on funding all capital expenditures within free cash flow.
Holly Energy plans to announce results for its fourth quarter of 2020 on February 23, 2021 before the opening of trading on the NYSE. The Partnership has scheduled a webcast conference on February 23, 2021 at 4:00 p.m. Eastern time to discuss financial results.
Holly Energy Partners announced its third quarter earnings results in November 2020 saying net income was down to $17.8 million compared to $82.3 million in the third quarter of 2019.
Through its subsidiary HollyFrontier, it owns and operates refineries in Oklahoma, Kansas, and New Mexico. Its Cheyenne refinery in Wyoming was converted last year to renewable diesel production.