Delek Logistics Partners, LP (DKL) will raise its quarterly cash distribution for the first quarter 2022 by 0.5 percent to $0.98 per common limited partner unit, or $3.92 per common limited partner unit on an annualized basis. The first quarter 2022 cash distribution is payable on May 12, 2022 to unitholders of record on May 5, 2022.

"This distribution marks 37 consecutive quarters of increasing the quarterly payout to our shareholders since the fourth quarter 2012. We see strong momentum for our company this year with elevated commodity prices prompting increased industry activity. This is most evident in our Permian Gathering System where producer demand is driving increased production volumes and creating growth opportunities. The lack of major planned turnaround activity for Delek US in 2022 bodes well for the DKL volumetric outlook. Finally, the recently announced planned acquisition of 3Bear Delaware Holding – NM, LLC, should provide DKL with more size and scale, better diversification both geographically within the Permian Basin and from a product mix standpoint. The transaction is expected to be immediately accretive to our distributable cash flow ratios," said Uzi Yemin, Chairman, President and Chief Executive Officer of Delek Logistics.

Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, was formed by Delek US Holdings, Inc. (DK) and owns, operates, acquires and constructs crude oil, natural gas and refined products logistics and marketing assets.