Dividends and Stock Repurchase at Phillips 66
Dividends and Stock Repurchase
February 14, 2014: Garland Says Phillips Believes in Bulletproof Dividends
Greg Garland told security analysts at the Credit Suisse Global Energy Summit on February 12, 2014 that Phillips believes in bulletproof dividends. "We think that growing shareholder distributions is key to growing total shareholder return. We believe in bullet proof dividends. We believe in not only secure but growing dividends and competitive dividends. We nearly doubled the dividends since the spin."
February 7, 2014: Phillips Declares Quarterly Dividend of 39 cents
Marketwatch reported on February 7, 2014 that the board of directors of Phillips has declared a quarterly dividend of 39 cents per share on Phillips 66 common stock payable on March 3, 2014, to shareholders of record at the close of business on Feb. 18, 2014.
Businesswire reported on December 6, 2013 that Phillips' board of directors has approved a new $2 billion share repurchase program, consistent with the company's strategy to grow shareholder distributions. “Returning capital to our shareholders is fundamental to creating value and delivering superior total shareholder returns,” said Phillips 66 Chairman and CEO Greg Garland. “Our disciplined capital allocation process complements these distributions with capital spending and reinvestment in our higher-valued businesses.” The shares will be repurchased from time to time in the open market at the company's discretion, subject to market conditions and other factors, and in accordance with applicable regulatory requirements.
October 2, 2013: Phillips Increases Quarterly Dividend to 39 cents
Seeking Alpha reported on October 2, 2013 that the board of directors of Phillips declared a quarterly dividend of 39 cents per share on Phillips 66 common stock, representing an increase of approximately 25 percent from the prior quarter. The dividend is payable on Dec. 2, 2013, to shareholders of record at the close of business on Nov. 14, 2013. "Our objective is to consistently increase shareholder distributions, while also capturing attractive opportunities to reinvest in our businesses and grow future returns," said Phillips 66 Chairman and CEO Greg Garland. Returning capital to our shareholders remains a priority for Phillips 66, and we are pleased to deliver another increase in our quarterly dividend."
July 10, 2013: Phillips Declares Quarterly Dividend of 31.25 cents
istockanalyst reported on July 10, 2013 that Phillips declared a quarterly dividend of 31.25 cents per share payable on September 3, 2013, to shareholders of record at the close of business on August 16, 2013.
May 8, 2013: Phillips Declares Quarterly Dividend of 31.25 cents
The Wall Street Journal reported on May 8, 2013 that Phillips declared a quarterly dividend of 31.25 cents per share payable on June 3, 2013, to shareholders of record at the close of business on May 20, 2013.
February 11, 2013: Phillips Declares Quarterly Dividend of 31.25 cents
Investors Business Daily reported on February 11, 2013 that Phillips declared a quarterly dividend of 31.25 cents per share payable on March 1, 2013, to shareholders of record at the close of business on Feb. 18, 2013.
December 7, 2012: Phillips Increases Quarterly Dividend from 25 cents to 31.25 cents
Bloomberg reported on December 7, 2012 that Phillips has announced that the company is raising its quarterly dividend to 31.25 cents per share from 25 cents. The new dividend will be paid in the first quarter of 2013. Phillips 66 also said it approved the repurchase of another $1 billion in company stock. It approved the repurchase of $1 billion shares during the third quarter as well.
October 3, 2012: Phillips Increases Quarterly Dividend from 20 cents to 25 cents
Businesswire reported on October 3, 2012 that Phillips has declared a quarterly dividend of 25 cents per share on Phillips 66 common stock, representing a 25 percent increase from the prior quarter. “This 25 percent increase reinforces our objective to provide competitive and growing dividends,” said Phillips 66 Chairman and CEO Greg Garland. “Allocating capital to dividends and repurchases while continuing to invest in the growth of our business is fundamental to our philosophy of delivering shareholder value.”
July 12, 2012: Phillips 66 Initiates $0.20 Quarterly Dividend
Michael Aneiro reported on Barrons on July 11, 2012 that Phillips 66 announced a quarterly common stock dividend of 20 cents per share, payable Sept. 4 to stockholders as of July 23. “Phillips 66 has a clear strategy to improve returns and to deliver a strong, competitive dividend program to our investors,” said compay chairman and CEO Greg C. Garland. “We are convinced that returns, growth and distributions create value.”
Master Index for Phillips 66 Articles
- Phillips 66 Master Article
- Phillips 66 Master Index
- Creation of Phillips 66
- Decision to Name the Downstream Company Phillips 66
- Strategic Vision for Phillips 66
- Phillips 66 Capital Programs
- Governance at Phillips 66
- Greg Garland, CEO of Phillips 66
- Members of the Board of Directors of Phillips 66
- Financial Stability of Phillips 66 and Risk Management
- Government Relations at Phillips 66
- Media Relations and Public Relations at Phillips 66
- New Phillips 66 Headquarters
- Litigation and Legal Issues at Phillips 66
- The Stock Market and Phillips 66
- Dividends and Stock Repurchase at Phillips 66
- Stockholder's Meetings at Phillips 66
- Earnings Conferences at Phillips 66
- Investor Conferences at Phillips 66
- Operational Excellence at Phillips 66
- Safety at Phillips 66
- Employee Deaths and Injuries at Phillips 66
- Environmental Issues at Phillips 66
- Refinery and Marketing Business Segment at Phillips 66
- Labor Relations at Phillips 66
- Human Resources at Phillips 66
- Increasing Profitability in the Refining Business Segment at Phillips 66
- Divestiture of Non-Core Assets at Phillips 66
- Marketing and Special Products at Phillips 66
- Technology Development at Phillips 66
- How Much Money Does the Marland Refinery in Ponca City Earn for Phillips 66?
- Ponca City and the "Merger of Equals" with Phillips 66 in 2001
- Ponca City and the Spinoff of Phillips 66 in 2012
- Phillips 66: Ponca City Refinery
- Phillips 66: The Marland Refinery at Ponca City
- Phillips 66: Alliance Refinery
- Phillips 66: Bayway Refinery
- Phillips 66: Billings Refinery
- Phillips 66: Borger Refinery
- Phillips 66: Ferndale Refinery
- Phillips 66: Humber Refinery
- Phillips 66: Lake Charles Refinery
- Phillips 66: Los Angeles Refinery
- Phillips 66: Wilmington Refinery
- Phillips 66: Melaka Refinery
- Phillips 66: San Francisco Refinery
- Phillips 66: Rodeo Refinery
- Phillips 66: Santa Maria Refinery
- Phillips 66: Sweeny Refinery
- Phillips 66: Trainer Refinery
- Phillips 66: Whitegate Refinery
- Phillips 66: Wood River Refinery
- Chemical Business Segment at Phillips 66
- Midstream Business Segment at Phillips 66
- What Independent Financial Analysts Say About Phillips 66
- External Links to Phillips 66
- Bartlesville Examiner-Enterprise. "Phillips 66 CEO praises city" by Kelcey King. August 28, 2008.
- Credit Suisse Global Energy Summit. "Transcript of Phillips 66 Presentation" by Greg Garland. February 12, 2014
- Marketwatch. "Phillips 66 Announces Quarterly Dividend" February 14, 2014.
- Businesswire. "Phillips 66 Announces New $2 Billion Share Repurchase Program" December 6, 2013.
- Seeking Alpha. "Phillips 66 Announces 25 Percent Increase in Quarterly Dividend" October 2, 2013.
- istockanalyst. "Phillips 66 Announces Quarterly Dividend" July 10, 2013.
- Wall Street Journal. "Phillips 66 Announces Quarterly Dividend" May 8, 2013.
- Investors Business Daily. "Phillips 66 Announces Quarterly Dividend" February 11, 2013.
- Bloomberg. "Phillips 66 raises dividend, plans new $1B buyback" December 7, 2012.
- Businesswire. "Phillips 66 Announces a 25 Percent Increase in Quarterly Dividend" October 3, 2012.
- Barrons. "Phillips 66 Initiates $0.20 Quarterly Dividend" by Michael Aneiro. July 11. 2012.
About the Author
Hugh Pickens (Po-Hi '67) is a physicist who has explored for oil in the Amazon jungle, crossed the empty quarter of Saudi Arabia, and built satellite control stations for Goddard Space Flight Center all over the world. Retired in 1999, Pickens and his wife moved from Baltimore back to his hometown of Ponca City, Oklahoma in 2005 where he cultivates his square foot garden, mows nine acres of lawn, writes about local history and photographs events at the Poncan Theatre and Ponca Playhouse.
Since 2001 Pickens has edited and published “Peace Corps Online,” serving over one million monthly pageviews. His other writing includes contributing over 1,500 stories to “Slashdot: News for Nerds,” and articles for Wikipedia, “Ponca City, We Love You”, and Peace Corps Worldwide.
Articles about Ponca City
- The Pioneer Woman Models Should Return to Ponca City July 13, 2007
- The Pioneer Woman Models Come Home to Ponca City February 26, 2010
- President Barack Obama's Mother Grew Up in Ponca City February 6, 2009
- Standing Bear Looks to the Future
- What to See in Ponca City
- Ponca Playhouse to Present "The Broken Statue" January 17, 2012
- What Ponca City Owes EW Marland June 20, 2012
- How Much Money Does the Marland Refinery in Ponca City Earn for Phillips 66? July 23, 2012
- EW Marland and the Movie "The Ends of the Earth" May 23, 2013
- An Independent Evaluation of Phillips 66, its Business Strategy, and Execution
- Jon Carson is Head of Obama's "Organizing for Action"
- Academy Award Winner Chris Terrio Writes Screenplay about E.W. Marland
- Building NASA's NASA's GRO Remote Terminal System (GRTS) in Australia
- America's Fresh Water Submarines in World War II
- Peace Corps Director Aaron Williams
- The Peace Corps "Sharp Incident" in Kazakhstan
- Why I enjoy Writing for Slashdot
- Why I enjoy Writing for Wikipedia
- Death Be Not Proud
- My Favorite Christmas
- A Victorian Mansion in Baltimore's Reservoir Hill
- Senate Foreign Relations Committee Hearing on the Nominee for Peace Corps Director
Updates to the Web Site
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