May 7, 2014 / 5:22 PM / 3 years ago

Phillips 66 boosts dividend by 28 percent

May 7 (Reuters) - Phillips 66, the second-largest independent U.S. oil refiner, raised its quarterly dividend on Wednesday by 28 percent.

The company declared a dividend of 50 cents payable on June 2 to common shareholders of record by May 19.

Shares of Phillips 66 rose 0.8 percent to $84.93 in Wednesday afternoon trading. (Reporting by Ernest Scheyder; Editing by David Gregorio)

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