Phillips 66 Partners (PSXP) Raises Quarterly Dividend 5% to $0.505; 3.7% Yield
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Phillips 66 Partners Announces 5 Percent Increase in Quarterly Cash Distribution
July 20, 2016 3:13 PM EDTHOUSTON--(BUSINESS WIRE)-- Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a second-quarter 2016 cash distribution of $0.505 per common unit. This quarters distribution represents an increase of 5 percent over the previous quarterly distribution of $0.481 per unit and a 26 percent increase over second-quarter 2015. The distribution increase is consistent with previous guidance that the partnership expects a 30 percent compound annual distribution growth rate from the... More
