CVR REFINING (CVI)

[jugs]

Just in:

Distributions
CVR Refining will not pay a cash distribution for the 2016 third quarter. CVR Refining is a variable distribution master limited partnership. As a result, its quarterly distributions, if any, will vary from quarter to quarter due to several factors, including, but not limited to, its operating performance, fluctuations in the prices paid for crude oil and other feedstocks, as well as the prices received for finished products, RINs' costs and cash reserves deemed necessary or appropriate by the board of directors of its general partner.

Now, then---this oughta light some fires under would-be ALDW investors, wouldn't you think? Damn, this thing had a fecal look about it going back several months. I am SO GLAD I hold just 2,000 units with a cost basis of $7.08.

I'm not planning on selling the position any time soon as I see a good possibility of the RINs program being modified. Should that occur, I'd expect to see units soar on the news---to $12/unit or even greater.