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Phillips 66 Announces Increase in Quarterly Dividend

May 11, 2022 at 11:55 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220510006368/en/

This dividend increase, along with the recently announced resumption of our share repurchase program, demonstrates our continuing commitment to shareholder returns.

Contacts

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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