Phillips 66 Partners (PSXP) Raises Quarterly Dividend 5% to $0.586; 4.5% Yield

Go back to Phillips 66 Partners (PSXP) Raises Quarterly Dividend 5% to $0.586; 4.5% Yield

Phillips 66 Partners Announces 5 Percent Increase in Quarterly Cash Distribution

April 19, 2017 3:32 PM EDT

HOUSTON--(BUSINESS WIRE)-- Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a first-quarter 2017 cash distribution of $0.586 per common unit. This quarters distribution represents an increase of 5 percent over the previous quarterly distribution of $0.558 per unit and a 22 percent increase over first-quarter 2016. The distribution increase is consistent with previous guidance that the partnership expects a 30 percent compound annual distribution growth rate from the... More