The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has
declared a cash distribution of $0.5075 per unit for the first quarter
of 2014. For the prior quarter, $0.50 per unit was distributed to
unitholders. This distribution, which represents a 6.3% increase over
the $0.4775 per unit distribution declared for the first quarter of
2013, marks the thirty-eighth 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 May 15, 2014 to unitholders of record on May 5, 2014.
Holly Energy plans to announce results for its first quarter of 2014 on
May 1, 2014, before the opening of trading on the NYSE. The Partnership
has scheduled a webcast later that day at 4 pm Eastern time to discuss
financial results.
The webcast may be accessed at: https://event.webcasts.com/starthere.jsp?ei=1031837.
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.
Copyright Business Wire 2014