HollyFrontier Corporation Announces Regular Cash Dividend

DALLAS–(BUSINESS WIRE)–HollyFrontier Corporation¬†(NYSE: HFC) (“HollyFrontier”) announced today
that its Board of Directors declared a regular quarterly dividend in the
amount of $0.33 per share, payable on June 5, 2019 to holders of record
of common stock on May 20, 2019.

About HollyFrontier Corporation:

HollyFrontier Corporation, headquartered in Dallas, Texas, is an
independent petroleum refiner and marketer that produces high value
light products such as gasoline, diesel fuel, jet fuel and other
specialty products. HollyFrontier owns and operates refineries located
in Kansas, Oklahoma, New Mexico, Wyoming and Utah and markets its
refined products principally in the Southwest U.S., the Rocky Mountains
extending into the Pacific Northwest and in other neighboring Plains
states. In addition, HollyFrontier produces base oils and other
specialized lubricants in the U.S., Canada and the Netherlands, and
exports products to more than 80 countries. HollyFrontier also owns a
57% limited partner interest and a non-economic general partner interest
in Holly Energy Partners, L.P., a master limited partnership that
provides petroleum product and crude oil transportation, terminalling,
storage and throughput services to the petroleum industry, including
HollyFrontier.

HFC Forward Looking Statement:

The statements contained herein relating to matters that are not
historical facts are “forward-looking statements” within the meaning of
the federal securities laws. These statements are based on our beliefs
and assumptions using currently available information and expectations
as of the date hereof, are not guarantees of future performance and
involve certain risks and uncertainties. Although we believe that such
expectations reflected in such forward-looking statements are
reasonable, we cannot give assurance that our expectations will prove to
be correct. Therefore, actual outcomes and results could materially
differ from what is expressed, implied or forecast in these statements.
Any differences could be caused by a number of factors including, but
not limited to:

  • our failure to successfully integrate the operation of Sonneborn with
    our existing operations or to realize anticipated cost saving
    synergies;
  • risks and uncertainties with respect to the actions of actual or
    potential competitive suppliers and transporters of refined petroleum
    or lubricant products in HollyFrontier’s markets;
  • the demand for and supply of crude oil, refined products and lubricant
    products;
  • the spread between market prices for refined products and market
    prices for crude oil;
  • the possibility of constraints on the transportation of refined
    products;
  • the possibility of inefficiencies, curtailments or shutdowns in
    refinery operations or pipelines;
  • effects of governmental and environmental regulations and policies;
  • the availability and cost of financing to HollyFrontier;
  • the effectiveness of HollyFrontier’s capital investments and marketing
    strategies;
  • HollyFrontier’s efficiency in carrying out construction projects;
  • the ability of HollyFrontier to acquire refined product operations or
    pipeline and terminal operations on acceptable terms and to integrate
    any future acquired operations;
  • the possibility of terrorist attacks and the consequences of any such
    attacks;
  • general economic conditions; and
  • other financial, operational and legal risks and uncertainties
    detailed from time to time in HollyFrontier’s Securities and Exchange
    Commission filings.

The forward-looking statements speak only as of the date made and, other
than as required by law, HollyFrontier undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

Contacts

HollyFrontier Corporation
Craig Biery, 214-954-6510
Director,
Investor Relations
or
Jared Harding, 214-954-6510
Manager,
Investor Relations

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