The Phillips 66 dividend will increase to $1.33 per share after the board declared a higher quarterly payment on October 16, 2026. The six-cent increase from $1.27 represents a rise of approximately 4.7% and marks the downstream energy company’s second dividend increase of the year.
Key Takeaways
- The quarterly dividend rises by six cents to $1.33 per common share.
- Payment is scheduled for December 1, 2026, with a November 17 record date.
- Management said the annualized dividend is 10.8% higher than in the fourth quarter of 2025.
Table of Contents
- Phillips 66 dividend increases for a second time in 2026
- Management links the increase to cash-flow confidence
- Conclusion
Phillips 66 dividend increases for a second time in 2026
The company’s quarterly dividend announcement confirms the new payment and eligibility timetable. Shareholders must be holders of record at the close of business on November 17, 2026; the release does not separately specify an ex-dividend date.
At the new quarterly rate, four payments would total $5.32 per share. That is an annualized calculation rather than a commitment to make four future distributions at the same rate.
The latest 4.7% increase measures the change from the preceding quarterly payment. Management’s larger 10.8% comparison uses the fourth quarter of 2025 as its starting point and reflects both increases announced during 2026.
| Item | Details |
|---|---|
| Record date | Close of business on November 17, 2026 |
| Payment date | December 1, 2026 |
| Annualized amount | $5.32 per share, calculated as four payments at the new quarterly rate |
Management links the increase to cash-flow confidence
Chairman and Chief Executive Officer Mark Lashier said the increase reflected the business’s resilience and management’s confidence in its ability to generate sustainable cash flow. Those comments explain the board’s rationale; they are not a guarantee of future earnings or dividends.
Lashier said Phillips 66 had increased its annual dividend every year since its formation in 2012, producing a 14% compound annual growth rate. That historical growth rate is distinct from both the latest quarterly increase and a forecast for future payouts.
Phillips 66 operates across midstream, chemicals, refining, marketing and specialties, and renewable fuels. Management said its capital-allocation approach combines shareholder distributions with investment in long-term growth and maintaining a strong financial position.
Conclusion
The declaration raises the quarterly payout without establishing a future dividend-growth commitment. The next confirmed milestones are the November 17 record date and the December 1, 2026 payment.
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