Delek US Holdings Approves a $400 Million Increase in Its Share Repurchase Authorization
September 03 2024 - 7:00AM
Business Wire
Delek US Holdings, Inc. (NYSE: DK) (the "Company" or "Delek US")
announced that its Board of Directors approved a $400 million
increase in its share repurchase authorization, bringing the total
amount available for repurchases under current authorizations to
approximately $562 million.
Avigal Soreq, President and Chief Executive Officer of Delek US,
stated, "Generating value for our shareholders is a key priority
and the enhanced share repurchase authorization reflects our desire
to deliver increased cash returns to our shareholders. We see a lot
of value in our equity and, subject to market conditions, we will
continue to use share buybacks to return incremental value to our
shareholders."
About Delek US Holdings, Inc.
Delek US Holdings, Inc. is a diversified downstream energy
company with assets in petroleum refining, logistics, pipelines,
and renewable fuels. The refining assets consist primarily of
refineries operated in Tyler and Big Spring, Texas, El Dorado,
Arkansas and Krotz Springs, Louisiana with a combined nameplate
crude throughput capacity of 302,000 barrels per day.
The logistics operations consist of Delek Logistics. Delek US
and its affiliates also own the general partner and an approximate
72.5% percent limited partner interest in Delek Logistics. Delek
Logistics is a growth-oriented master limited partnership focused
on owning and operating midstream energy infrastructure assets.
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This press release contains forward-looking statements that are
based upon current expectations and involve a number of risks and
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prospects, opportunities, plans, actions and events and other
statements, concerns, or matters that are not historical facts are
"forward-looking statements," as that term is defined under the
federal securities laws. Investors are cautioned that risks
described in the Company's filings with the United States
Securities and Exchange Commission, among others, may affect these
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results and will
not be accurate indications of the times at, or by, which such
performance or results will be achieved. Forward-looking
information is based on information available at the time and/or
management's good faith belief with respect to future events and is
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
the statements. The Company undertakes no obligation to update or
revise any such forward-looking statements to reflect events or
circumstances that occur or that the Company becomes aware of after
the date hereof, except as required by applicable law or
regulation.
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Investor Relations and Media/Public Affairs Contact:
investor.relations@delekus.com
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