SUGAR LAND, Texas, July 17, 2014 /PRNewswire/ -- CVR Energy,
Inc. (NYSE: CVI) ("CVR Energy") announced today that its board of
directors has declared a special dividend of $2.00 per share payable on Aug. 4, 2014, to stockholders of record at the
close of business on July 28, 2014.
The total amount of the special dividend payment will be
approximately $174 million and brings
the company's cumulative dividends declared in 2014 to
approximately $304 million.
CVR Energy owns the general partner and a majority interest in
each of CVR Refining, LP (NYSE: CVRR) ("CVR Refining") and CVR
Partners, LP (NYSE: UAN). CVR Refining recently completed a public
offering that generated net proceeds to CVR Energy of approximately
$164 million, which combined with
strong operations, allows the company to return additional capital
to stockholders.
Forward Looking Statements
This news release may
contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as
amended. You can generally identify forward-looking statements
by our use of forward-looking terminology such as "anticipate,"
"believe," "continue," "could," "estimate," "expect," "explore,"
"evaluate," "intend," "may," "might," "plan," "potential,"
"predict," "seek," "should," or "will," or the negative thereof or
other variations thereon or comparable terminology. These
forward-looking statements are only predictions and involve known
and unknown risks and uncertainties, many of which are beyond our
control. For a discussion of risk factors which may affect our
results, please see the risk factors and other disclosures included
in our most recent Annual Report on Form 10-K, any
subsequently filed Quarterly Reports on Form 10-Q and our
other SEC filings. These risks may cause our actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by these
forward-looking statements. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements. The forward-looking
statements included in this press release are made only as of the
date hereof. CVR Energy disclaims any intention or obligation
to update publicly or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except to the extent required by law.
Stockholders should consult their tax advisors regarding the tax
effects of the dividend to them.
About CVR Energy, Inc.
Headquartered in Sugar Land, Texas, CVR Energy is a diversified
holding company primarily engaged in the petroleum refining and
nitrogen fertilizer manufacturing industries through its holdings
in two limited partnerships, CVR Refining, LP and CVR Partners, LP.
CVR Energy subsidiaries serve as the general partner and own a
majority of the common units representing limited partner interests
of CVR Refining and CVR Partners.
For further information, please contact:
Investor Relations:
Jay
Finks
CVR Energy, Inc.
913-982-0481
InvestorRelations@CVREnergy.com
Media Relations:
Angie
Dasbach
CVR Energy, Inc.
281-207-3550
MediaRelations@CVREnergy.com
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SOURCE CVR Energy, Inc.