Phillips 66 Announces Increase in Quarterly Dividend
May 11 2022 - 11:55AM
Business Wire
The board of directors of Phillips 66 (NYSE: PSX) has declared a
quarterly dividend of 97 cents per share on Phillips 66 common
stock, representing a 5% increase. The dividend is payable on June
1, 2022, to shareholders of record as of the close of business on
May 23, 2022.
“We are increasing our dividend this quarter as we resume our
cadence of annual dividend increases. This dividend increase, along
with the recently announced resumption of our share repurchase
program, demonstrates our continuing commitment to shareholder
returns. We have increased the dividend 11 times since our
inception in 2012, resulting in an 18% compound annual growth
rate,” said Phillips 66 Chairman and CEO Greg Garland.
“Additionally, we paid down $1.45 billion of debt in April and plan
to repay additional debt this year.”
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets
products that drive the global economy. The diversified energy
company’s portfolio includes Midstream, Chemicals, Refining, and
Marketing and Specialties businesses. Headquartered in Houston,
Phillips 66 has employees around the globe who are committed to
safely and reliably providing energy and improving lives while
pursuing a lower-carbon future. For more information, visit
phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20220510006368/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
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