Dividend payments in the second quarter
Valero Energy (VLO), Marathon Petroleum (MPC), Phillips 66 (PSX), and HollyFrontier (HFC) have paid dividends consistently in the past few years. Before we look at their dividend yields, we’ll discuss their dividend payments in the second quarter.
Marathon Petroleum has raised its dividend payment 15.2% YoY to $0.53 per share. The company will pay the dividend on June 10. Valero Energy and Phillips 66 have increased their dividend payments 12.5% YoY each to $0.9 per share each in the second quarter. However, HollyFrontier will pay a steady dividend of $0.33 per share on June 5.
Dividend yields have risen
Refining stocks’ dividend yields have risen since the second quarter of 2018. Valero Energy’s dividend yield has increased the most compared to Marathon Petroleum, Phillips 66, and HollyFrontier.
Valero Energy’s dividend yield is 4.3%, which is the highest among its peers. The yield has risen from 2.9% in the second quarter of 2018. The yield rose is due to an increase in Valero Energy’s dividends and a decline in its stock price during the stated period. The stock fell in the fourth quarter of 2018. However, the stock has been recovering in the current year. Since the second quarter of 2018, Valero Energy stock has fallen 22.9%.
Marathon Petroleum’s dividend yield has increased from 2.5% in the second quarter of 2018 to 4.1%. Phillips 66’s yield has risen from 2.5% to 4.1% during the same period. Both of the companies have raised their dividends since the second quarter of 2018. However, their stock prices have declined. Marathon Petroleum and Phillips 66 have fallen ~24.7% and 22.2%, respectively, since the second quarter of 2018.
Holly Frontier’s yield has risen from 2.2% in the second quarter of 2018 to the current level of 3.0%. The increase was led by 35.2% fall in HollyFrontier stock during the stated period.