HOUSTON--(BUSINESS WIRE)-- The board of directors of Phillips 66 (PSXP) (NYSE: PSX) has declared a quarterly dividend of 80 cents per share on Phillips 66 common stock, representing a 14 percent increase. The dividend is payable on June 1, 2018, to shareholders of record as of the close of business on May 21, 2018.
“A secure, competitive and growing dividend is fundamental to our capital allocation strategy,” said Greg Garland, chairman and CEO of Phillips 66. “We have increased the dividend eight times since our inception in 2012, resulting in a 27 percent compound annual growth rate and demonstrating our strong commitment of returning value to shareholders.”
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,500 employees committed to safety and operating excellence. Phillips 66 had $52 billion of assets as of March 31, 2018. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
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Jeff Dietert, 832-765-2297 (investors)
Rosy Zuklic, 832-765-2297 (investors)
Dennis Nuss, 832-765-1850 (media)
Source: Phillips 66Copyright Business Wire 2018