Stock Alert: Delek Logistics Jumps 25%

(RTTNews) - Shares of Delek Logistics Partners, LP (DKL) are gaining over 25% on Wednesday morning on no specific stock-related news.

DKL is currently gaining $11.09, up $2.28 or 25.88%, on the NYSE.

Meanwhile, Delek Logistics Tuesday raised its quarterly dividend by 0.6% to $0.89 per share from prior dividend of $0.885. The dividend is payable on May 12 to shareholders of record May 5.

Last month, Delek US Holdings, Inc. (DK) announced an agreement for the dropdown of the Big Spring gathering system to Delek Logistics for $100 million in cash and 5.0 million common units representing limited partnership interest in Delek Logistics.

The company was expecting the transaction to add to earning immediately. The assets and services are projected to generate incremental annual EBITDA of about $30 million to $32 million.