Friday, July 13, 2012
Phillips 66 (PSX) Dividend Announced
Phillips 66 (PSX), the spinoff from ConocoPhillips, announced it would be paying it's first ever dividend on September 4 to shareholders of record on July 23. The quarterly dividend will be $0.20 per share which is right where they had said it would be during talks of the spinoff. The dividend yield is 2.3% after the early runup and was 2.4% prior to the announcement. The yield is a little low for where I would like to get in but the company has announced a targeted 5% annual increase in it's dividend. I have a 2.68% YOC for my shares received during the spinoff. It's good to finally get confirmation on the dividend.