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.
