HollyFrontier Corp. Q2 Profit Down, Declares Special Dividend - Quick Facts

(RTTNews) - HollyFrontier Corp. (HFC), a petroleum refiner and marketer, Wednesday reported a decrease in second-quarter net income, reflecting lower refining margins and impact of certain one-time items. The company also declared a special dividend, along with the regular quarterly dividend.

Net income attributable to stockholders decreased to $257 million or $1.27 per share, from $493.5 million or $2.39 per share during the same quarter last year. This quarter results include charges of $42.4 million. On average, nineteen analysts polled by Thomson Reuters expected earnings per share of $1.41 the quarter. Analysts' estimates typically exclude one-time items. Sales and other revenues for the period were $5.29 billion, up from $4.80 billion last year. Analysts expected the company to generate revenues of $4.55 billion for the second quarter.

Production levels averaged about 409,000 barrels per day or BPD and crude oil charges averaged about 381,000 BPD for the three-month period.

Further, the Board declared a special cash dividend of $0.50 per share, payable on September 13 to shareholders of record on August 26. The regular quarterly dividend of $0.30 per share declared by the company is payable on September 27 to shareholders on record September 6.