Delek Logistics raises quarterly cash distribution

Delek Logistics Partners LP
DKL,
+1.22%
raised its quarterly cash distribution on Monday to 90 cents per common limited partner unit from 89 cents. “This marks the twenty-ninth consecutive quarterly increase in the cash distribution and illustrates the stability of the business despite a turbulent macro environment,” said Uzi Yemin, chief executive, chairman and president, in a statement. Brentwood, Tenn.-based Delek owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. Shares were not active premarket, but are down 15.5% in the year to date, while the S&P 500
SPX,
-0.61%
has fallen 0.5%.