Delek US Holdings, Inc. (NYSE:DK) Q4 2022 Earnings Conference Call February 28, 2023 3:00 PM ET
Company Participants
Rosy Zuklic - VP, IR
Avigal Soreq - President and CEO
Todd O'Malley - EVP and COO
Reuven Spiegel - EVP and CFO
Mark Hobbs - EVP Corporate Development
Robert Wright - Chief Accounting Officer
Conference Call Participants
John Royall - JPMorgan
Neil Mehta - Goldman Sachs
Kalei Akamine - Bank of America Merrill Lynch
Paul Cheng - Scotiabank
Jason Gabelman - Cowen
Roger Read - Wells Fargo
Matthew Blair - Tudor, Pickering, Holt
Operator
Good day everyone. Welcome to the Fourth Quarter 2022 Delek US Earnings Conference Call. My name is Jamie and I will be your operator for today's call. Please also note today's conference is being recorded.
At this time I'd like to turn the conference call over to Rosy Zuklic, Vice President, Investor Relations. Rosy, you may begin.
Rosy Zuklic
Good afternoon. And welcome to the Delek US fourth quarter earnings conference call. Participants on today's call will include Avigal Soreq, President and CEO; Todd O'Malley, EVP and Chief Operating Officer; Reuven Spiegel, EVP and Chief Financial Officer; Mark Hobbs, EVP Corporate Development, as well as other management members. Today's presentation material can be found on the investor relations section of the Delek US website.
Slide 2 contains our Safe Harbor statement. We'll be making forward-looking statements during today's call an actual results may differ materially from today's common. Factors that could cause actual results to differ are included here, as well as in our SEC filings.
With that, I'll turn the call over to Avigal.
Avigal Soreq
Thank you, Rosy. Good afternoon, everyone. And thank you for joining us today. 2022 was the best deal ever for Delek US. Market condition was strong for refining and midstream, and we were able to capture opportunities along this. Full year adjusted EBITDA was $1.2 billion. During the fourth quarter, total results were strong. Adjusted EBITDA was $221 million, despite unplanned downtime, mainly at the big spring refineries. Third we do more color and operation and the action we are taking to ensure safe and reliable operation.
As I said in the past shareholder returns is a key priority for us. During we returned $236 million to shareholders with $172 million in the second half of 2022, close to 10% of DK market capital. Within state the regular dividend this year, and we are pleased to announce an additional 5% increase in the quarterly dividend to $0.22 per share. Looking forward, we are very excited about our future.