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Phillips 66 Announces 12.5 Percent Increase in Quarterly Dividend

HOUSTON, May 04, 2016 (BUSINESS WIRE) -- The board of directors of Phillips 66 PSX, -0.71% has declared a quarterly dividend of 63 cents per share on Phillips 66 common stock, representing a 12.5 percent increase. The dividend is payable on June 1, 2016, to shareholders of record as of the close of business on May 18, 2016. Since the formation of Phillips 66 in 2012, the board has increased the dividend six times, representing a 33 percent compound annual growth rate.

“The increase in the dividend reflects our board’s confidence in the...