CVR Energy (CVI) Initiates Qtr. Dividend at 8c/Share; Will Sell Part of CVR Partners (UAN) Investment

CVR Energy, Inc. (NYSE: CVI), a refiner and marketer of petroleum fuels and a majority owner of CVR Partners, LP (NYSE: UAN), reports its Board of Directors has approved a regular quarterly cash dividend of $0.08 per common share, the first of which will be paid following the end of the company's first quarter on a date to be set by the Board. The Board reached its decision to initiate a regular quarterly dividend after an extensive review of the company's financial performance and confidence in its future prospects and believes it is consistent with its continuing commitment to deliver long-term value for shareholders.

As part of that commitment, the Board also intends to sell a portion of the company's investment in CVR Partners to pay for a special dividend to shareholders and strengthen the company's balance sheet. The Board believes that a sale of a portion of the company's interest offers the best opportunity to deliver significant value to shareholders in a reasonable time frame with minimal execution risk or structural impediments. The size, time and manner of the sale will be disclosed when the transaction is implemented.

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