Western Refining (WNR) Declares $1.50 Special Dividend; 5.2% Yield

December 11, 2012 5:34 PM EST
Western Refining (NYSE: WNR) declared a special dividend of $1.50 per share.

The dividend will be payable on December 28, 2012, to stockholders of record on December 21, 2012.

The annual yield on the dividend is 5.2 percent.

Jeff Stevens, CEO and President of Western Refining, said, "The decision by our Board of Directors to declare a second 2012 special dividend reflects our on-going commitment to our shareholders. Our margin environment continues to be very strong. The Permian Basin crude oil discount significantly widened in December and continues to widen into 2013. This environment, coupled with our aggressive debt reduction, conservative capital structure, and on-going hedging initiative, allows the Company to continue to return cash to shareholders via dividends and our share repurchase program. In 2012, Western will return over $320 million to its shareholders. These actions, and our continued investment in the business, reinforce our commitment to create value for Western's shareholders."

For a dividend history and other dividend-related data on Western Refining (WNR) click here.

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