Phillips 66 Announces Quarterly Dividend

HOUSTON--(BUSINESS WIRE)--

The board of directors of Phillips 66 PSX has declared a quarterly dividend of 56 cents per share on Phillips 66 common stock, representing an increase of 12 percent from the prior quarter. The dividend is payable on June 1, 2015, to shareholders of record as of the close of business on May 18, 2015.

"This dividend increase demonstrates our ongoing commitment to shareholder distributions," said Greg Garland, chairman and CEO of Phillips 66. "Our focus on disciplined capital allocation allows us to continue to return value to our shareholders while also significantly growing our Midstream and Chemicals businesses."

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 an integral asset in the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $49 billion in assets as of March 31, 2015. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.