HollyFrontier (HFC) Approves $500M Buyback Plan

HollyFrontier Corporation (NYSE: HFC) announced its Board of Directors has authorized a $500 million share repurchase program. This authorization replaces all existing share repurchase authorizations, of which there was approximately $230 million remaining after having recently purchased approximately 1.6 million shares in the third quarter of 2014. 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 $500 million share repurchase program reflects our renewed focus on share repurchases in addition to our dividend program and our continued commitment to deliver value to our shareholders," said Mike Jennings, President and Chief Executive Officer of HollyFrontier.

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