Phillips 66 Announces Increase In Quarterly Dividend From $1.05 To $1.15 Per share

Phillips 66 +0.91%

Phillips 66

PSX

154.71

+0.91%

The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock, representing a 10% increase. The dividend is payable on June 3, 2024, to shareholders of record as of the close of business on May 20, 2024.

"The dividend increase reflects the confidence we have in our growing mid-cycle cash flow generation and disciplined approach to capital allocation, including a secure, competitive and growing dividend," said Mark Lashier, president and CEO of Phillips 66.

"Since our formation in 2012, we have steadily raised our dividend, resulting in a 16% compound annual growth rate. We are well-positioned to continue delivering significant shareholder value through the successful execution of our strategic priorities, including returning $13 billion to $15 billion to shareholders through dividends and share repurchases between July 2022 and year-end 2024."

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