HollyFrontier (HFC) Misses Q2 EPS by 6c, Announces Special Dividend

HollyFrontier (NYSE: HFC) reported Q2 EPS of $0.89, $0.06 worse than the analyst estimate of $0.95. Revenue for the quarter came in at $5.37 billion versus the consensus estimate of $4.46 billion.

HollyFrontier also announced today that its Board of Directors declared a special cash dividend in the amount of $0.50 per share, payable on September 15, 2014 to holders of record of common stock on August 27, 2014. In addition, the Board of Directors approved a regular quarterly dividend of $0.32 per share. This dividend will be paid on September 25, 2014 to holders of record of common stock on September 2, 2014.

HollyFrontier’s President & CEO, Mike Jennings, commented, “We are pleased with our consistent refining operations and financial results for the quarter. Although refined product margins decreased compared to the prior year quarter, our margins are healthy and we expect further growth in North American crude oil production to continue to provide us with a structural crude advantage. Looking forward, this crude oil dynamic should favorably affect our operating margins and support our capital allocation strategy of providing significant cash distributions to our shareholders while also investing opportunistically in our growth.”

For earnings history and earnings-related data on HollyFrontier (HFC) click here.

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