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Delek US Holdings unveils $100M Q3 share repurchase plan

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Delek US Holdings unveils $100M Q3 share repurchase plan

Tennessee-based refiner Delek US Holdings Inc. said Sept. 6 that it plans to complete a $100 million 10b5-1 share repurchase plan in the third quarter.

Approximately $30 million of the company's shares were repurchased by the end of August with the company planning to repurchase an incremental $70 million of shares in September.

"Taking into consideration the total share repurchases including this announcement, we expect to have repurchased approximately $215 million of Delek US stock, or approximately 5.0% of current market capitalization on a year-to-date basis by the end of September," Delek US chairman, president and CEO Uzi Yemin said.