Phillips 66 hikes dividend by 9.5% to $1.15 quarterly per share. This marks the 12th consecutive year of increases by the refiner. PSX now has a dividend yield of 2.7%.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners (PSXP), the company's master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, the company has been paying a dividend to shareholders every year since at least 2012.