Phillips 66 Announces Increase in Quarterly Dividend, Repayment of Debt
October 08 2021 - 12:32PM
Business Wire
The board of directors of Phillips 66 (NYSE: PSX) has declared a
quarterly dividend of 92 cents per share on Phillips 66 common
stock, representing a 2% increase. The dividend is payable on Dec.
1, 2021, to shareholders of record as of the close of business on
Nov. 17, 2021.
Additionally, on Sept. 24, 2021, the company repaid the $500
million of outstanding borrowings under its 364-day delayed draw
term loan agreement due November 2023.
“We are increasing our dividend this quarter, demonstrating our
commitment to shareholder returns and reflecting our confidence in
the company’s strategy and cash flow recovery,” said Phillips 66
Chairman and CEO Greg Garland. “We have increased the dividend 10
times since our inception in 2012, resulting in an 18% compound
annual growth rate. We also have reduced our debt balance by $1
billion this year and will continue prioritizing debt repayment to
return to pre-pandemic levels.”
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 14,000 employees committed to safety and operating excellence.
Phillips 66 had $57 billion of assets as of June 30, 2021. For more
information, visit www.phillips66.com or follow us on Twitter
@Phillips66Co.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211008005433/en/
Jeff Dietert (investors) 832-765-2297 jeff.dietert@p66.com
Shannon Holy (investors) 832-765-2297 shannon.m.holy@p66.com
Thaddeus Herrick (media) 855-841-2368
thaddeus.f.herrick@p66.com
Phillips 66 (NYSE:PSX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Phillips 66 (NYSE:PSX)
Historical Stock Chart
From Sep 2023 to Sep 2024