SUGAR LAND, Texas, May 28, 2013 /PRNewswire/ -- CVR Energy,
Inc. (NYSE: CVI) ("CVR Energy") announced today that its board of
directors has declared a special dividend of $6.50 per share payable on June 10, 2013, to stockholders of record at the
close of business on June 3,
2013. The total amount of the special dividend payment will
be approximately $564 million and
brings the company's cumulative dividends declared in 2013 to
approximately $1.1 billion.
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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 Partners"). CVR Refining and
CVR Partners each recently completed public offerings that
generated net proceeds to CVR Energy of approximately $700 million, which combined with strong
operations, allows the company to return significant additional
capital to stockholders.
"Surpassing the billion dollar mark in returns to our
stockholders by mid-year speaks volumes about the strength of our
operating performance," said CVR Energy Chairman Carl C. Icahn. "Our repeated ability to return
capital demonstrates our ongoing commitment to providing
outstanding value to our 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, and any subsequently filed Quarterly Reports on
Form 10-Q. 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.
281-207-3588
InvestorRelations@CVREnergy.com
Media Relations:
Angie Dasbach
CVR Energy, Inc.
913-982-0482
MediaRelations@CVREnergy.com
SOURCE CVR Energy, Inc.