PBF Logistics (PBFX) Raises Quarterly Dividend 5.1% to $0.41; 9.5% Yield
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PBF Energy Reports Fourth Quarter and Full Year 2015 Results, Declares Dividend of $0.30 Per Share
February 11, 2016 6:32 AM ESTPARSIPPANY, N.J., Feb. 11, 2016 /PRNewswire/ --Â PBF Energy Inc. (NYSE: PBF) today reported fourth quarter 2015 operating income, excluding special items, of $167.7 million versus operating income of $208.6 million for the fourth quarter of 2014. Special items in the fourth quarter 2015 results include two notable non-cash, after-tax items, a $209.0 million lower-of-cost-or-market ("LCM") inventory charge and a $12.3 million benefit related to a change in a tax receivable agreement liability.
Adjusted fully-converted net income for the fourth quarter 2015, excluding special items, was $71.0 million, or $0.70 per share on a fully-exchanged, fully-diluted basis, as described below, compared to... More
PBF Logistics Increases Quarterly Cash Distribution to $0.41 per Unit and Announces Fourth Quarter Earnings Results
February 11, 2016 6:31 AM ESTPARSIPPANY, N.J., Feb. 11, 2016 /PRNewswire/ --Â PBF Logistics LP (NYSE: PBFX, the "Partnership") announced today fourth quarter 2015 net income attributable to the partnership of $17.3 million, or $0.50 per limited partner unit. During the fourth quarter, the Partnership generated earnings before interest, income taxes, depreciation, and amortization (EBITDA) of $26.1 million, which includes a one-time charge of $1.0 million related to employee expenses, and distributable cash flow of $20.3 million. For the year-ended December 31, 2015, the Partnership reported net income of $73.8 million, or $2.18 per limited partner unit.
"The fourth quarter was a solid operational quarter for PBFX and we are pleased... More
