HOUSTON--(BUSINESS WIRE)-- The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of 90 cents per share on Phillips 66 common stock, representing a 12.5% increase. The dividend is payable on June 3, 2019, to shareholders of record as of the close of business on May 20, 2019.

“The increase demonstrates our continued dedication to a secure, competitive and growing dividend,” said Greg Garland, chairman and CEO of Phillips 66. “We have increased the dividend nine times since our inception in 2012, resulting in a 25% compound annual growth rate. Disciplined capital allocation is fundamental to our strategy, and we continue to balance investment in growth opportunities that offer strong returns, with shareholder distributions through dividends and share buybacks.”

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 14,300 employees committed to safety and operating excellence. Phillips 66 had $58 billion of assets as of March 31, 2019. For more information, visit http://www.phillips66.com/ or follow us on Twitter @Phillips66Co.

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Jeff Dietert, 832-765-2297 (investors)
jeff.dietert@p66.com

or

Brent Shaw, 832-765-2297 (investors)
brent.d.shaw@p66.com

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Dennis Nuss, 832-765-1850 (media)
dennis.h.nuss@p66.com

Source: Phillips 66