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The Phillips 66 Board of Directors declared a 63 cents per share quarterly dividend on Phillips 66 common stock.  That represents a 12.5 percent increase. The dividend is payable on June first to shareholders of record as of the close of business on May 18th. Since the formation of Phillips 66 in 2012, the board has increased the dividend six times, representing a 33 percent compound annual growth rate.

Chairman and Chief Executive Officer, Greg Garland says the increase in the dividend reflects the company's  confidence in the Phillips 66 strategy and the cash flow resilience of its diversified portfolio.  Garland went to say Phillips 66 is committed to maintaining a growing, affordable and competitive dividend.