Increases quarterly distribution to $0.5225 per unit from $0.515 per
unit
DALLAS -- (Business Wire)
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has
declared a cash distribution of $0.5225 per unit for the third quarter
of 2014. This distribution, which represents a 6.1% increase over the
$0.4925 per unit distribution declared for the third quarter of 2013,
marks the fortieth consecutive quarterly increase. Holly Energy has
increased its distribution to unitholders every quarter since becoming a
publicly-traded partnership in July 2004. The distribution will be paid
on November 14, 2014 to unitholders of record on November 4, 2014.
Holly Energy plans to announce results for its third quarter of 2014 on
November 4, 2014, before the opening of trading on the NYSE. The
Partnership has scheduled a webcast at 4 p.m. Eastern time that day to
discuss financial results.
The webcast may be accessed at: https://event.webcasts.com/starthere.jsp?ei=1044060.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446‐4(b). Please note that one hundred percent
(100.0%) 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 39% interest (including a 2% general partner
interest), in the Partnership. The Partnership owns and operates
petroleum product and crude pipelines, tankage, terminals and loading
facilities located in Texas, New Mexico, Oklahoma, Arizona, Washington,
Kansas, Wyoming, Idaho and Utah. In addition, the Partnership owns a 75%
interest in UNEV Pipeline, LLC, the owner of a Holly Energy operated
refined products pipeline running from Salt Lake City, Utah to Las
Vegas, Nevada, and related product terminals and a 25% interest in SLC
Pipeline LLC, a 95-mile intrastate pipeline system serving refineries in
the Salt Lake City, Utah area.
Contacts:
Holly Energy Partners, L.P.
Julia Heidenreich, 214-954-6511
Vice
President, Investor Relations
or
Blake Barfield, 214-954-6511
Investor
Relations
Source: Holly Energy Partners, L.P.
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