HollyFrontier (HFC) has announced another special dividend of $0.50 per share. The company now has paid out special dividends each quarter this year, on top of its regular dividend of $0.30. In the first quarter of 2013 the company increased the regular dividend from $0.20 to $0.30.
At the current stock price of $44.88 HollyFrontier has an indicated dividend yield of 2.7%. Including the special dividends the dividend yield is much higher.
HollyFrontier Corporation, headquartered in Dallas, Texas, is an independent petroleum refiner and marketer that produces high value light products such as gasoline, diesel fuel, jet fuel and other specialty products. HollyFrontier owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming and Utah and markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. In addition, HollyFrontier produces base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and exports products to more than 80 countries. HollyFrontier also owns a 57% limited partner interest and a non-economic general partner interest in Holly Energy Partners, L.P., a master limited partnership that provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier.