Phillips 66 Announces Increase in Quarterly Dividend
April 03 2024 - 11:00AM
Business Wire
The board of directors of Phillips 66 (NYSE: PSX) has declared a
quarterly dividend of $1.15 per share on Phillips 66 common stock,
representing a 10% increase. The dividend is payable on June 3,
2024, to shareholders of record as of the close of business on May
20, 2024.
“The dividend increase reflects the confidence we have in our
growing mid-cycle cash flow generation and disciplined approach to
capital allocation, including a secure, competitive and growing
dividend,” said Mark Lashier, president and CEO of Phillips 66.
“Since our formation in 2012, we have steadily raised our
dividend, resulting in a 16% compound annual growth rate. We are
well-positioned to continue delivering significant shareholder
value through the successful execution of our strategic priorities,
including returning $13 billion to $15 billion to shareholders
through dividends and share repurchases between July 2022 and
year-end 2024.”
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading diversified and integrated
downstream energy provider that manufactures, transports and
markets products that drive the global economy. The 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.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE
“SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This news release contains forward-looking statements within the
meaning of the federal securities laws. Words such as “believe,”
“continue,” “grow,” “intend,” “will,” “would,” and similar
expressions that convey the prospective nature of events or
outcomes generally indicate forward-looking statements. However,
the absence of these words does not mean that a statement is not
forward-looking. Forward-looking statements in this news release
include statements regarding the execution of the Company’s
strategic priorities, future cash flow generation and shareholder
returns targets are based on management’s current expectations,
estimates and projections of the Company’s future results,
including future financial and business performance and economic
conditions. These statements are not guarantees of future
performance and you should not unduly rely on them as they involve
certain risks, uncertainties and assumptions that are difficult to
predict. Therefore, actual outcomes and results may differ
materially from what is expressed, forecast or implied by such
forward-looking statements. Factors that could cause actual results
or events to differ materially from those described in such
forward-looking statements include the risks and uncertainties set
forth in our filings with the Securities and Exchange Commission,
including under Item 1A. “Risk Factors” of the Phillips 66 Annual
Report on Form 10-K for the year ended December 31, 2023. Phillips
66 is under no obligation (and expressly disclaims any such
obligation) to update or alter its forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240403794402/en/
Jeff Dietert (investors) 832-765-2297 jeff.dietert@p66.com
Owen Simpson (investors) 832-765-2297 owen.simpson@p66.com
Thaddeus Herrick (media) 855-841-2368
thaddeus.f.herrick@p66.com
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