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Why Wall Street Analysts Expect Phillips 66’s Dividend to Grow

Maitali Ramkumar - Author
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Aug. 18 2020, Updated 6:22 a.m. ET

Phillips 66’s dividend per share

Phillips 66’s (PSX) dividend payments have been growing steadily for the past few years. In 1Q18, it was $0.70 per share, which represents a 25% growth from 1Q16. The dividend was announced on February 7, 2018, and paid on March 1, 2018.

Wall Street analysts anticipate Phillips 66’s dividend payment to rise in 2Q18 to $0.76 per share. That represents an 8.6% growth over 1Q18. That could be because for the past two years, PSX has raised its dividend payments in the second quarter. It stepped up its dividend payment in the second quarter in 2017. In 2016, it followed a similar pattern.

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Phillips 66’s dividend yield

Phillips 66’s current dividend yield stands at 2.9% compared to 2.7% in 1Q16. The improvement in yield is due to steeper growth in its dividends compared to the rise in its stock.

Peers’ dividend yields

Andeavor’s (ANDV) dividend yield has grown from 2.3% in 1Q16 to the current level of 2.4%. PBF Energy’s (PBF) dividend yield has risen from 3.4% to 3.7% in the same period.

However, Marathon Petroleum’s (MPC) dividend yield has fallen from 3.1% in 1Q16 to the current level of 2.6%. Delek US Holdings (DK) and HollyFrontier (HFC) have seen their dividend yields decline from 3.5% and 3.8%, respectively, in 1Q16 to the current levels of 2.1% and 2.8%, respectively. Valero Energy’s (VLO) dividend yield has fallen from 3.5% in 1Q16 to the current level of 3.4%.

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