Phillips 66 Partners (PSXP) Raises Quarterly Dividend 5.1% to $0.558; 4.3% Yield

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Go back to Phillips 66 Partners (PSXP) Raises Quarterly Dividend 5.1% to $0.558; 4.3% Yield

Phillips 66 Partners Announces 5 Percent Increase in Quarterly Cash Distribution

January 18, 2017 3:20 PM EST

HOUSTON--(BUSINESS WIRE)-- Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a fourth-quarter 2016 cash distribution of $0.558 per common unit. This quarters distribution represents an increase of 5 percent over the previous quarterly distribution of $0.531 per unit and a 22 percent increase over fourth-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