A Look at Phillips 66’s Dividend Yield Trend
Phillips 66’s dividend yield
Phillips 66 (PSX) has consistently given returns to shareholders in the form of dividends. The dividend yield is calculated as the ratio of the annualized dividends to the price of the stock.
Phillips 66’s dividend yield has risen from 2.4% in 4Q13 to 3.1% in 4Q16. This increase was due to the steeper rise in dividends compared to an increase in the stock price in the stated period.
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Peers’ dividend yields
During the same period, Valero Energy’s (VLO) dividend yield rose from 2.2% to 4.1%, whereas Tesoro’s (TSO) dividend yield rose from 2% to 2.6%. Among the smaller players, HollyFrontier (HFC) and Western Refining (WNR) rose from 2.6% and 2.7%, respectively, in 4Q13 to 5.3% and 5.2%, respectively, in 4Q16.
For exposure to high-dividend stocks, you can consider the Vanguard High Dividend Yield ETF (VYM). VYM has ~10% exposure to energy sector stocks, including PSX.