CVR Energy Announces Cash Dividend of 75 Cents Per Quarter, Raising Dividend to $3.00 Annually
May 29 2018 - 8:42AM
CVR Energy, Inc. (NYSE:CVI) today announced a second quarter 2018
cash dividend of 75 cents per share. The increase of the quarterly
dividend from 50 cents to 75 cents per share each quarter, or $3.00
annually, represents an annualized increase of $1.00 per share. The
dividend, as declared by CVR Energy’s Board of Directors, will be
paid on Aug. 13, 2018, to stockholders of record on Aug. 6, 2018.
“Increasing CVR Energy’s quarterly dividend to 75
cents a quarter, or $3.00 annually, reflects the
strength of our balance sheet
and the exceptional operating
performance of our business segments,” said
Dave Lamp, chief executive officer. “CVR Refining’s
strategically located assets, coupled with flexible refining
configurations and reliable operations, are well positioned to
capture constructive refining market conditions, including regional
crude spreads and diesel cracks. Going forward, CVR Energy
will remain committed to providing outstanding value
to its stockholders.”
Forward-Looking StatementsThis news release may
contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as
amended. You can generally identify forward-looking statements
by our use of forward-looking terminology such as “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “explore,”
“evaluate,” “intend,” “may,” “might,” “plan,” “potential,”
“predict,” “seek,” “should,” or “will,” or the negative thereof or
other variations thereon or comparable terminology. These
forward-looking statements are only predictions and involve known
and unknown risks and uncertainties, many of which are beyond our
control. For a discussion of risk factors which may affect our
results, please see the risk factors and other disclosures included
in our most recent Annual Report on Form 10-K, any
subsequently filed Quarterly Reports on Form 10-Q and our
other SEC filings. These risks may cause our actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by these
forward-looking statements. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements. The forward-looking
statements included in this press release are made only as of the
date hereof. CVR Energy disclaims any intention or obligation
to update publicly or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except to the extent required by law.
About CVR Energy, Inc.Headquartered in Sugar
Land, Texas, CVR Energy is a diversified holding company primarily
engaged in the petroleum refining and nitrogen fertilizer
manufacturing industries through its holdings in two limited
partnerships, CVR Refining, LP and CVR Partners, LP. CVR Energy
subsidiaries serve as the general partner and own 66 percent of the
common units of CVR Refining and 34 percent of the common units of
CVR Partners.
For further information, please contact:
Investor Contact:Jay FinksCVR Energy, Inc.(281)
207-3588InvestorRelations@CVREnergy.com
Media Relations:Brandee StephensCVR Energy,
Inc.(281) 207-3516MediaRelations@CVREnergy.com
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