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Phillips 66 Raises Dividend 25%

Tuesday - 2/12/2013, 6:31pm  ET

Phillips 66 has announced a raise in its quarterly dividend. The company is to pay $0.3125 per share of its common stock on March 1 to shareholders of record as of the end of Feb. 18. That payout represents an increase of 25% over the previous dividend of $0.25 paid in October.

The company's only previous dividend prior to that was $0.20, disbursed last July following the establishment of the company earlier that year (it was spun off from oil and gas major ConocoPhillips.

The new dividend annualizes to $1.25, which represents a yield of 1.9% on the current share price.

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This article was originally published as Phillips 66 Raises Dividend 25%on Fool.com

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