Western Refining, Inc. Announces $200 Million Stock Repurchase Program And Increases Dividend

Western Refining, Inc. announced that its Board of Directors has authorized a share repurchase program of up to $200 million. The share repurchases may be made from time-to-time through open market transactions, block trades, privately negotiated transactions or otherwise and are subject to market conditions, as well as corporate, regulatory, and other considerations. This share repurchase program may be discontinued at any time by the Board of Directors. Additionally, the Company's Board of Directors approved a cash dividend of $0.08 per share of common stock for the third quarter of 2012. The dividend will be paid on August 13, 2012, to shareholders of record at the close of market on July 27, 2012.