PBF Logistics (PBFX) Raises Quarterly Dividend 1% to $0.4850, 9.6% Yield; Announces Multi-Year Growth Plan

PBF Logistics (NYSE: PBFX) declared a quarterly dividend of $0.4850 per share, or $1.94 annualized. This is a 1% increase from the prior dividend of $0.48.

The dividend will be payable on March 14, 2018, to stockholders of record on February 28, 2018, with an ex-dividend date of February 27, 2018.

The annual yield on the dividend is 9.6 percent.

"We are pleased to announce our multi-year organic growth plan in conjunction with our solid fourth quarter results. We have developed a robust pipeline of projects which we will implement over the next several years. We fully expect our organic growth to be augmented by third-party transactions and further drop-down acquisitions from our supportive sponsor," said PBF Logistics GP LLC Chief Executive Officer, Tom Nimbley. "To aid in the continued development of the Partnership, we believe that a disciplined and measured distribution growth strategy will, importantly, continue to reward unit-holders while simultaneously increasing distribution coverage and internally fund our growth," concluded Mr. Nimbley.

For a dividend history and other dividend-related data on PBF Logistics (PBFX) click here.

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