The cash pumps are on at ConocoPhillips (NYSE:COP), and shareholders will soon be drawing their money. The company has declared its latest quarterly dividend, which amounts to $0.66 per share. This will be paid on June 3 to stockholders of record as of May 24. This amount matches the distribution the company has handed out in every quarter since the beginning of 2011. Prior to that, it paid $0.55 per share.

The oil concern is a solid and reliable dividend payer, and tends to increase its payouts over time. Since the summer of 2005, its distribution has climbed from $0.31 per share to the present level.

The current dividend annualizes to $2.64 per share. That yields 4.2% at ConocoPhillips' most recent closing stock price of $63.06.