Delek US Holdings Approves a $400 Million Increase in Its Share Repurchase Authorization
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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