Delek Logistics Partners, LP (NYSE: DKL) has announced an increase in its quarterly cash distribution for the fourth quarter of 2023. The company declared a distribution of $1.055 per common limited partner unit, marking a 1% increase from the previous quarter and a 3.4 percent increase from the same quarter in 2022. On an annualized basis, this amounts to $4.22 per common limited partner unit.
This news reflects the company's commitment to delivering value to its investors and signifies its confidence in its financial position and future prospects. Delek Logistics Partners, LP continues to focus on providing essential midstream energy services to its customers.
Commenting on the announcement, company management stated, "We are pleased to increase our quarterly cash distribution, which underscores our ongoing commitment to delivering strong returns to our unitholders."
Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, is a midstream energy master limited partnership. The company's operations, including gathering, pipeline, transportation, and other services, are primarily located in and around the Permian Basin, the Delaware Basin, and select areas in the Gulf Coast region.
In the market, the company's shares have traded flat today at a price of $44.15.
The full 8-K submission by Delek Logistics Partners, LP to the Securities and Exchange Commission can be accessed here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $658 | $584 | $563 | $701 | $1,036 | $1,035 |
| Revenue Growth | n/a | -11.19% | -3.52% | 24.4% | 47.87% | -0.11% |
| Operating Margins | 19% | 22% | 32% | 27% | 20% | 24% |
| Net Margins | 14% | 17% | 28% | 24% | 15% | 14% |
| Net Income (MM) | $90 | $97 | $159 | $165 | $159 | $147 |
| Net Interest Expense (MM) | $41 | $47 | $43 | $50 | $82 | $133 |
| Depreciation & Amort. (MM) | $2 | $2 | $2 | $2 | $3 | $5 |
| Earnings Per Share | $3.7 | $3.96 | $4.74 | $3.79 | $3.66 | $3.37 |
| EPS Growth | n/a | 7.03% | 19.7% | -20.04% | -3.43% | -7.92% |
| Diluted Shares (MM) | 24 | 24 | 34 | 43 | 44 | 44 |
| Free Cash Flow (MM) | $82 | $121 | $180 | $251 | $51 | -$117 |
| Capital Expenditures (MM) | $13 | $9 | $13 | $24 | $141 | $123 |
| Current Ratio | 0.89 | 0.96 | 1.04 | 0.24 | 0.61 | 1.38 |
| Total Debt (MM) | $700 | $833 | $992 | $899 | $3,308 | $1,741 |
| Net Debt / EBITDA | 5.45 | 6.48 | 5.44 | 4.65 | 15.53 | 6.86 |
