The board of directors of Phillips 66 has declared a quarterly dividend of 97 cents per share on Phillips 66 common stock, representing a 5% increase. The dividend is payable on 1 June 2022, to shareholders of record as of the close of business on 23 May 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 programme, 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 US$1.45 billion of debt in April and plan to repay additional debt this year.”