Phillips 66 will pay a higher quarterly dividend in December after its board approved a 6-cent increase, raising the distribution to $1.33 per share from $1.27.
The board declared the dividend Friday, Oct. 16. Shareholders on record at the close of business Nov. 17 are eligible for payment on Dec. 1, the company said.
The new rate is about 4.7% above the previous one. Phillips 66’s dividend history lists three payments of $1.27 per share during the first three quarters of 2026. The company said the latest increase is its second this year, bringing the annualized increase to 10.8% compared with the fourth quarter of 2025.
Chairman and CEO Mark Lashier said the increase reflects the business’s continued strength and resilience, as well as the company’s commitment to long-term returns for shareholders.
Phillips 66 said it has raised its annual dividend every year since its formation in 2012, with a 14% compound annual growth rate. The next payment under the new quarterly rate is scheduled for Dec. 1.
