Phillips 66 (NYSE:PSX)has elected to keep pumping out payouts for its shareholders. The company declared a quarterly common stock dividend of $0.3125 per share, to be disbursed on Sept. 3 to shareholders of record as of Aug. 16. That amount matches both of Phillips 66's distributions paid this year, the most recent of which was handed out in early June. Before that, the firm dispensed $0.25.
The company has paid a dividend for each of the five quarters of its existence since being spun off from Conoco Phillips in May of last year.
The just-declared distribution annualizes to $1.25 per share. That yields 2.2% at Phillips 66's most recent closing stock price of $56.09.
Fool contributor Eric Volkman and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.