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Phillips 66 Announces Increase In Regular Dividend And Expanded Share Repurchase Plan

Friday, 7 Dec 2012 03:00pm EST 

Phillips 66 announced that it has approved a 25 % increase in the Company`s dividend, effective in the first quarter of 2013, representing an annual dividend of $1.25 per share of common stock. Phillips 66`s board of directors has also approved an additional $1 billion share repurchase which augments the $1 billion share repurchase plan announced in the third quarter of 2012. The shares will be repurchased from time to time in the open market at the Company`s discretion, subject to market conditions and other factors, and in accordance with applicable regulatory requirements.