More on HollyFrontier's Q2 results, shares -2.8% premarket

HollyFrontier (HFC) Q2 earnings fell 48% as refinery margins narrowed amid lower production, but says the proximity of its refineries to U.S. crude-producing regions would keep refining margins healthy.

Refinery gross margin dropped 28% to $20.28/bbl from $27.43 a year ago.

Planned and unplanned maintenance at its Tulsa, El Dorado and Cheyenne refineries contributed to lower production.

Declares a special dividend of $0.50/share in addition to the regular $0.30 quarterly dividend.

Shares -2.8% premarket.

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