Diversified downstream energy company Delek US Holdings Inc (DK) Thursday announced that the Board of Directors of the company has declared a special cash dividend of $0.10 per share.
The company stated that shareholders on record date as on October 16, 2012 will be paid the special cash dividend and October 30, 2012.
"Our business and cash flow generation remains very strong. This presents us with opportunities to improve our financial flexibility and better position the Company for long-term success," remarked Uzi Yemin, President and Chief Executive Officer of Delek US Holdings. "With today's special dividend announcement, our Board continues its long-standing commitment to return value to our shareholders….."
The company further stated that it has fully repaid from cash on hand the remaining $38.5 million of debt that was owed to an affiliate of Delek Group, Ltd. This debt was primarily associated with the Company's acquisition of Lion Oil Company in April 2011.
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