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Where the Dividend Yields of MPC, VLO, ANDV, and PSX Stand

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Aug. 21 2018, Updated 7:32 a.m. ET

Dividend payments in the third quarter

Marathon Petroleum (MPC), Andeavor (ANDV), Valero Energy (VLO), and Phillips 66 (PSX) have paid dividends regularly in the past few years. Before we look at these companies’ dividend yields, let’s look at their dividend payments in the current quarter.

MPC will pay a dividend of $0.46 per share on September 10. This payment reflects a 15% rise over the dividend it paid in the third quarter of 2017. Similarly, VLO’s and PSX’s dividend payments of $0.80 per share each represent 14% rises over their dividends in the third quarter of 2017. Andeavor’s dividend payment of $0.59 per share has remained flat compared to the third quarter of 2017.

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Dividend yields fall

Refining stocks’ dividend yields have fallen since the third quarter of 2017. VLO has seen the highest fall in its dividend yield compared to MPC, ANDV, and PSX. Let’s begin with Valero’s dividend yield trend.

VLO’s current dividend yield stands at 2.9%. A company’s current dividend yield represents its annualized dividend as a percentage of its stock price. For VLO, this metric has fallen compared to 4.1% in the third quarter of 2017. The fall in its dividend yield is the result of a steeper rise in its stock price than the rise in its dividend in the period.

Similarly, Marathon Petroleum’s dividend yield has fallen from 2.9% in the third quarter of 2017 to its current level of 2.4%. Likewise, dividend yields in ANDV and PSX have fallen 0.6% each over the third quarter of 2017. ANDV’s and PSX’s current dividend yields stand at 1.6% and 2.8%, respectively. The steep fall in ANDV’s dividend yield is the result of a steep surge in its stock following its merger news. MPC announced its acquisition of ANDV on April 30.

In the next article, we’ll look at refining stocks’ forward valuations.

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