Refinery operator Holly Energy Partners, L.P. declared a cash distribution of $0.35 per unit for the fourth quarter of 2021. The distribution will be paid on February 11, 2022 to unitholders of record on February 1, 2022.
In 2022, HEP expects to hold the quarterly distribution constant at $0.35 per unit, or $1.40 on an annualized basis. HEP remains committed to its distribution strategy focused on funding all capital expenditures and distributions within operating cash flow and maintaining distributable cash flow of 1.3x or greater with the goal of reducing leverage to 3.0-3.5x.
HEP plans to announce results for its fourth quarter of 2021 on February 22, 2022 before the opening of trading on the NYSE and has scheduled a webcast conference on February 22, 2022 at 4:00 p.m. Eastern time to discuss financial results.
Among the refineries owned by its subsidiary Holly Frontier is a refinery in Tulsa.
Source: press release