Delek Logistics Partners raised its quarterly distribution by half a cent to $1.135 per share on July 22, marking its third increase this year and 54th consecutive quarterly hike. The midstream company's annual dividend now stands at $4.54 per share, yielding 7.7% after the stock slumped nearly 13% on August 13 following a 4 million-share offering at $50 per share, well below its prior close of $60. The offering dilutes investors by $200 million against a market capitalization of $2.8 billion, with proceeds partly used to retire debt at 6.05% interest. Delek Logistics is up 17.2% year to date, and parent Delek US has reduced its ownership stake from 79% four years ago to about 63%, with Delek expecting 80% of 2026 EBITDA to come from third parties.
Delek Logistics Partners LPRaises quarterly distribution for 54th consecutive quarter, increasing yield.
Delek US Energy IncParent Delek US reduced stake, but not directly impacted by distribution hike.
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