HollyFrontier (HFC) announced today that its Board of Directors declared a special cash dividend in the amount of $0.50 per share, payable on December 17, 2014 to holders of record of common stock on November 28, 2014.

The Board of Directors also approved a regular quarterly dividend of $0.32 per share. This dividend will be paid on December 30, 2014 to holders of record of common stock on December 4, 2014.

Mike Jennings, CEO and President of HollyFrontier, commented, "Today’s authorization by our Board of Directors reflects their continued commitment to returning cash to shareholders through both regular and special dividends in addition to the recently announced $500 million share repurchase program. Including today's announced dividends, the company has returned approximately $2.8 billion to shareholders since the HollyFrontier merger and our last twelve month cash dividend yield stands at 7.4% relative to today’s closing price of $43.85."

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.