Holly Energy Partners Declares Quarterly Distribution
January 24 2013 - 4:33PM
Business Wire
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP)
has declared a cash distribution of $0.47 per unit for the fourth
quarter of 2012. Holly Energy Partners completed a two-for-one
common unit split on January 16, 2013. For the prior quarter,
$0.925 was distributed to unitholders, which would be the
equivalent of $0.4625 on a post-split basis. Holly Energy has
increased its distribution to unitholders every quarter since
becoming a public partnership in July 2004. This increase marks the
thirty-third consecutive quarterly increase. The distribution will
be paid February 14, 2013, to unitholders of record February 4,
2013.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Please note that one hundred
(100.0%) percent of Holly Energy Partner’s distributions to foreign
investors are attributable to income that is effectively connected
with a United States trade or business. Accordingly, Holly Energy
Partner’s distributions to foreign investors are subject to federal
income tax withholding at the highest applicable effective tax
rate.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas,
provides petroleum product and crude oil transportation, tankage
and terminal services to the petroleum industry, including
HollyFrontier Corporation, which currently owns a 44% interest
(including a 2% general partner interest) in Holly Energy. Holly
Energy owns and operates petroleum product and crude pipelines,
tankage, terminals and loading facilities located in Texas, New
Mexico, Arizona, Oklahoma, Washington, Idaho, Utah, Kansas and
Wyoming. In addition, Holly Energy owns a 25% interest in SLC
Pipeline LLC, a transporter of crude oil in the Salt Lake City
area, and a 75% interest in UNEV Pipeline, LLC, the owner of a
Holly Energy operated refined products pipeline running from Utah
to Las Vegas, Nevada and related product terminals.
Information about Holly Energy Partners, L.P. may be found on
its website at http://www.hollyenergy.com.
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