HollyFrontier (HFC) Announces $1B Stock Buyback Plan

HollyFrontier (NYSE: HFC) authorized a $1 billion share repurchase program. This authorization replaces all existing share repurchase authorizations, of which there was approximately $462 million remaining after having recently purchased approximately 1.4 million shares in the first quarter of 2015. Share repurchases will be made in the open market or through privately negotiated transactions from time to time and are subject to market conditions, corporate, regulatory and other considerations. This share repurchase program may be discontinued at any time by the Board of Directors.

“Our Board’s decision to authorize a $1 billion share repurchase program demonstrates our ongoing commitment to returning capital to shareholders through increased share repurchases along with our regular dividend program. We intend to maintain both a competitive divided yield and total cash yield relative to our peer group. HollyFrontier has returned $2.9 billion in cash to shareholders since our 2011 merger,” said Mike Jennings, President and Chief Executive Officer of HollyFrontier.

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