EX-Dividend Schedule: Phillips 66 Partners Raises its Dividend by 5%; Will Trade Ex-Dividend on April 27, 2018
LONDON, UK / ACCESSWIRE / April 25, 2018 / Active-Investors has a free review on Phillips 66 Partners (NYSE: PSXP) following the Company's announcement that it will begin trading ex-dividend on April 27, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on April 26, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on PSXP:
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Dividend Declared
On April 18, 2018, Phillips 66 Partners L.P. announced that the Board of Directors of its general partner declared a first-quarter 2018 cash distribution of $0.714 per common unit. The recent dividend announcement represents an increase of 5% over the previous quarterly distribution of $0.678 per unit and a 22% increase over Q1 2017 distribution. The first-quarter distribution is payable May 14, 2018, to unitholders of record as of April 30, 2018.
Phillips 66 Partners' indicated dividend represents a yield of 5.70%, which is more than double compared to the average dividend yield of 2.49% for the Basic Materials sector. This the eighteenth consecutive quarterly distribution increase since Phillips 66 Partners' initial public offering in 2013.
Dividend Insight
Phillips 66 Partners has a dividend payout ratio of 88.7%, which means that the Company spends approximately $0.89 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Phillips 66 Partners is forecasted to report earnings of $3.51 per share for the next year, which is comfortable higher than the Company's annualized dividend of $2.86 per share.
During Q4 2017, Phillips 66 Partners' cash from operations was $238 million, and distributable cash flow was $172 million. As of December 31, 2017, the Partnership had $185 million in cash and cash equivalents and no outstanding balance under its $750 million revolving credit facility. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Upcoming Earnings
On March 22, 2018, Phillips 66 Partners announced that its executive management will host a conference call webcast at 2 p.m. EDT on April 27, 2018 to discuss the partnership's first-quarter 2018 financial results, which will be released earlier that day, and provide an update on strategic initiatives.
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop, and acquire primarily fee-based crude oil, refined petroleum product, and natural gas liquids pipelines and terminals and other transportation and midstream assets.
Stock Performance Snapshot
April 24, 2018 - At Tuesday's closing bell, Phillips 66 Partners' stock fell 1.29%, ending the trading session at $50.69.
Volume traded for the day: 203.28 thousand shares.
Stock performance in the last month – up 7.85%
After yesterday's close, Phillips 66 Partners' market cap was at $6.38 billion.
Price to Earnings (P/E) ratio was at 19.87.
The stock has a dividend yield of 5.35%.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Refining & Marketing industry.
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