There's risk here as I'm sure you realize:
What happens if ALDW announces there'll be no distribution for this quarter?
Of course we can always hedge our bets by selling off a partial position but it makes little sense unless we're anticipating a dramatic swoon. Still, I'm the forever-low-cost-basis guy and if things appeared bleak enough in the quarter's closing moments due to terrible crack spread information, I'd consider lightening up. The longer-view strategy, however, would revolve about reutilizing the repatriated cash in order to build a commanding low cost basis position.
However, I'm thinking it's unlikely the company will not pay out at least something, even if only a token consideration in the 10 cent range. I think the BOD would do this if only to preserve the loyal following while not bankrupting business.
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