Delek US reports record profit of $100.3M - Israel Business, Ynetnews

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Delek US President and CEO Uzi Yemin
Delek US President and CEO Uzi Yemin 

Delek US reports record profit of $100.3M

Company to pay 10 cents per-share dividend. 'This is the most profitable quarter in the company's history,' says President and CEO Uzi Yemin

Published: 11.08.12, 14:33 / Israel Business

Delek Group's subsidiary Delek US – which deals with petroleum refining, marketing and supply and convenience store retailing in the United States – posted its third quarter 2012 results on Thursday, reporting record profit.


The company reported a $100.3 million net profit, or $1.67 per share, as compared with an $85.3 million net profit, or $1.46 per share, in the corresponding quarter, constituting an 18% gain.


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Delek US concluded the first nine months of the year with a net profit of $214.3 million as compared with a $164.3 million net profit in the corresponding period last year.


Delek US board of directors announced the company would pay a quarterly dividend of 0.10 dollars per share – a 160% increase against the previous quarterly dividend, which was $0.0375 per share.


The company also reported a $ 317.8 million cash balance for the end of the third quarter and $372.6 million in total debt.


Delek US President and CEO Uzi Yemin noted that the quarter was the company's most profitable ever, with record profits stemming from a gain in the company's El Dorado refinery's gross profits due to accelerated oil supply to the refinery via rail of some 11,600 barrels per day, as well as from the company's ability to operate its Tyler refinery at peak capacity of over 60,000 barrels of crude oil per day during the quarter.


This report was originally published in Hebrew by Calcalist



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