Cvr energy determines stock ratio for distribution of delek us holdings common stock to cvr energy stockholders in connection with special dividend

Sugar land, texas, may 27, 2021 (globe newswire) -- cvr energy, inc. (“cvr energy” or the “company”) (nyse: cvi) today announced the final ratio for the stock distribution (defined below) portion of its previously announced special dividend of $492 million, which is payable in a combination of cash and the common stock of delek us holdings, inc. (“delek”) held by the company (the “stock distribution”). the special dividend will be paid on june 10, 2021 (the “distribution date”). in the stock distribution, the company will distribute 0.1048 of a share of delek common stock for each share of the company's common stock outstanding as of the close of business on may 26, 2021 (the “record date”). the final stock distribution ratio was calculated by dividing the 10,539,880 shares of delek common stock to be distributed by 100,530,599 shares of cvr energy common stock outstanding as of the close of business on the record date. no fractional shares of delek common stock will be distributed. instead, stockholders will receive cash in lieu of any fractional share of delek common stock that they otherwise would have received. the company intends to announce the amount of cash per share of its common stock to which each of its stockholders will be entitled on the distribution date.
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