Delek US Holdings, Inc. (NYSE:DK) Increases Dividend to $0.30 Per Share

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.30 per share by the oil and gas company on Wednesday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 17.6% increase from Delek US’s previous quarterly dividend of $0.2550.

Delek US has a dividend payout ratio of -48.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Delek US to earn $14.03 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 7.3%.

Delek US Stock Performance

Shares of NYSE DK opened at $71.07 on Friday. The business’s 50-day simple moving average is $73.81 and its 200-day simple moving average is $52.59. The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76. Delek US has a 52 week low of $25.85 and a 52 week high of $82.27. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 0.51 and a beta of 0.62.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, topping the consensus estimate of $2.67 by $2.81. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.56) EPS. As a group, equities research analysts expect that Delek US will post 18.62 earnings per share for the current fiscal year.

Delek US Company Profile

Delek US Holdings, Inc is a downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing and transporting fuels and other refined petroleum products for markets primarily in the southern United States.

Through its refining operations, Delek processes crude oil into products such as gasoline, diesel, jet fuel and asphalt. Its logistics business, conducted in part through Delek Logistics Partners, owns and operates pipelines, crude oil gathering systems, storage terminals, transportation assets and other infrastructure that supports the movement of crude oil and refined products.

Delek has also operated convenience stores and fuel stations, particularly in Texas and neighboring states, under brands including DK and Alon.