Boston, MA 05/12/2014 (wallstreetpr) – Western Refining Logistics LP (NYSE:WNRL) announced on Friday that it will participate in the Morgan Stanley Refining Corporate Access Day, which is scheduled to take place today in New York City.
Apart from this, the management of the company will also take part in the Citibank 2014 ICG markets-Equities: Global Energy & Utilities Conference (“Citibank Conference”), which is scheduled on May 14, 2014, Wednesday in Boston. The presentation and materials of both the conferences will be made available on the company’s website under Investor Relations segment.
First Quarter Progress
Earlier last week, Western Refining Logistics LP (NYSE:WNRL) released its financial report for the first quarter, where it posted net income of $10.9 million or earnings per share of $0.24 per share that came in line with the market estimates. Revenue during the quarter came in at $32.76 million, indicating a growth of 2773.7% year-over-year and exceeding the market consensus of $30.65 million. According to the company’s CEO and President Jeff Stevens, the organic growth of the company is in line with the expectations as the crude oil volumes in its Delaware Basin records a strong growth.
Stevens went on to state that Western Refining Logistics LP (NYSE:WNRL) witnessed a positive start of the year. As in relations to the future, Stevens is optimistic that the company will continue to take advantage from the strategic placement of its assets and their closeness and connection to the San Juan and Permian basins. With the company’s El Paso refinery upkeep nearly completed, it expects pipeline volumes to continue to increase resulting in overall growth of the company.
Dividend Hiked
Western Refining Logistics LP (NYSE:WNRL)’s positive progress during the first quarter has led its Board of Directors to increase the quarterly dividend distribution by 3.5% to $0.2975 per unit. The company will pay out the dividend to the shareholders appearing on its record as on May 16, on May 26, 2014.
