Phillips 66 (PSX) Dividend
Phillips 66 · Energy · Oil & Gas Refining & Marketing · quarterly payer
As of Nov 5, 2026, Phillips 66 (PSX) pays a quarterly dividend of $1.27 per share, or $5.32 a year, a 2.05% yield at its $258.52 share price. The next ex-dividend date is Nov 17, 2026, paid Dec 1, 2026. It has raised its dividend 13 years in a row and has a dividend safety grade of A.
Forward Yield
2.05%
Annual Dividend
$5.32
Payout Ratio
16%
5-Yr Growth
5.7%
Ex-Date
Nov 17, 2026
Frequency
Quarterly
Key facts about PSX's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Phillips 66 (PSX) has a forward dividend yield of 2.05%, based on an annual dividend of $5.32 per share and a share price of $258.52.
- As of Nov 5, 2026, PSX's dividend safety grade from SmarterDividends is A (91 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, Phillips 66 (PSX) has raised its dividend for 13 consecutive years as of Nov 5, 2026.
- PSX has never cut its regular dividend in the payment history SmarterDividends has on record.
- PSX's next ex-dividend date is Nov 17, 2026, with payment on Dec 1, 2026. Shares must be owned before that date to receive the dividend.
- As of Nov 5, 2026, PSX pays out 16% of its trailing 12-month earnings as dividends (its payout ratio).
- PSX's dividend has grown at an average rate of 5.7% a year over the past five years.
- As of Nov 5, 2026, PSX's 2.05% yield is 48% below its five-year average yield of 3.96%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for PSX is $131.67 per share, 49% below the $258.52 share price, so PSX screens as overvalued.
- Phillips 66 (PSX) pays its dividend quarterly, 4 times a year.
- Phillips 66 (PSX) has raised its regular dividend 15 times and cut it 0 times across the 57 payments on record since 2012. Its most recent change was a 5.8% increase to $1.27 per share, going ex-dividend on Feb 23, 2026.
Cite this page
SmarterDividends, "PSX Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/PSX
Is PSX a good dividend stock?
YesPhillips 66 (PSX) pays a quarterly dividend yielding 2.05% ($5.32/yr), with 13 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 13 consecutive years of dividend growth
- Never cut its dividend on record
- Comfortable payout ratio (16%)
- Strong 5.7% 5-yr dividend growth
- 309% total price return over 5 years
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 2.05%
- Payout Ratio
- 16%
- Annual Dividend
- $5.32
- 5-Yr Avg Growth
- 5.7%
- Ex-Dividend Date
- Nov 17, 2026
- Years of Growth
- 13
- Frequency
- quarterly
- Beta
- 0.67
- Market Cap
- $100.8B
- P/E Ratio
- 8.3
- 5-Yr Total Return
- 309%
- 52-Week Range
- $127.16 – $299.39
- Dividend Safety
- A · 91/100
- Ever Cut?
- No
PSX dividend raises and cuts
Phillips 66 (PSX) has raised its regular dividend 15 times and cut it 0 times across the 57 payments on record since 2012. Its most recent change was a 5.8% increase to $1.27 per share, going ex-dividend on Feb 23, 2026.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Feb 23, 2026 | Raise | $1.20 → $1.27 | +5.8% |
| May 19, 2025 | Raise | $1.15 → $1.20 | +4.3% |
| May 17, 2024 | Raise | $1.05 → $1.15 | +9.5% |
| Feb 17, 2023 | Raise | $0.970 → $1.05 | +8.2% |
| May 20, 2022 | Raise | $0.920 → $0.970 | +5.4% |
| Nov 16, 2021 | Raise | $0.900 → $0.920 | +2.2% |
| May 17, 2019 | Raise | $0.800 → $0.900 | +12.5% |
| May 18, 2018 | Raise | $0.700 → $0.800 | +14.3% |
| May 16, 2017 | Raise | $0.630 → $0.700 | +11.1% |
| May 16, 2016 | Raise | $0.560 → $0.630 | +12.5% |
| May 14, 2015 | Raise | $0.500 → $0.560 | +12.0% |
| May 15, 2014 | Raise | $0.390 → $0.500 | +28.2% |
Show all 15 changes since 2012
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 12, 2013 | Raise | $0.313 → $0.390 | +24.6% |
| Feb 19, 2013 | Raise | $0.250 → $0.313 | +25.2% |
| Oct 11, 2012 | Raise | $0.200 → $0.250 | +25.0% |
Frequently Asked Questions
Is PSX a good dividend stock?
Yes. Phillips 66 (PSX) pays a quarterly dividend yielding 2.05% ($5.32/yr), with 13 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is PSX undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, PSX's fair value is about $131.67 versus a $258.52 share price — so it looks overvalued (-49% vs. fair value).
Is PSX's dividend safe?
PSX has a dividend-safety grade of A (91/100), based on its payout coverage, free-cash-flow, 13-year growth streak, a clean no-cut history, debt and yield-versus-history.
What is PSX's fair value?
Our blended fair-value estimate for PSX is about $131.67 per share, about 49% below the current $258.52 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is PSX a buy, hold, or sell?
We don't issue formal ratings, but on the data PSX screens as "yes" and overvalued. Phillips 66 (PSX) pays a quarterly dividend yielding 2.05% ($5.32/yr), with 13 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will PSX cut its dividend?
PSX earns a dividend-safety grade of A (91/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does PSX pay a dividend?
Yes. Phillips 66 pays a quarterly dividend of about $5.32 per share annually, a forward yield of roughly 2.05%.
How much dividend does 100 shares of PSX pay?
At $5.32 per share a year, 100 shares of PSX pay $532.00 a year in dividends before tax, about $133.00 each quarter. Buying them costs about $25,852 at the Nov 5, 2026 price.
What is PSX's dividend yield?
As of Nov 5, 2026, PSX's forward dividend yield is 2.05%, based on a $5.32 annual dividend and a $258.52 share price.
What is PSX's dividend per share?
As of Nov 5, 2026, PSX pays $5.32 per share per year, distributed on a quarterly basis.
What is PSX's dividend payout ratio?
As of Nov 5, 2026, PSX's payout ratio is 16% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has PSX grown its dividend?
As of Nov 5, 2026, PSX has increased its dividend for 13 consecutive years.
When is the next PSX ex-dividend date?
As of Nov 5, 2026, the next ex-dividend date on record for PSX is Nov 17, 2026.
PSX Price — Last 12 Months
Daily close
Price Return
1 Year
+107%
3 Years
+119%
5 Years
+309%
52-Week Range
$127.16 – $299.39
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PSX worth?
Overvaluedmedium confidenceOur blended fair-value estimate for Phillips 66 is $131.67 per share, versus a market price of $258.52. That implies 49% of downside.
Fair Value
$131.67
Current Price
$258.52
Downside
-49%
Margin of Safety
-96%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 15.1% annual free-cash-flow growth. We model 0.0% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), 0.0% growth for five years fading to 2.5% over the next five, $31.18 EPS, $5.32 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PSX Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full PSX dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 18, 2026 | Sep 1, 2026 | $1.2700 | regular |
| May 18, 2026 | Jun 1, 2026 | $1.2700 | regular |
| Feb 23, 2026 | Mar 4, 2026 | $1.2700 | regular |
| Nov 17, 2025 | Dec 1, 2025 | $1.2000 | regular |
| Aug 19, 2025 | Sep 2, 2025 | $1.2000 | regular |
| May 19, 2025 | Jun 2, 2025 | $1.2000 | regular |
| Feb 24, 2025 | Mar 5, 2025 | $1.1500 | regular |
| Nov 18, 2024 | Dec 2, 2024 | $1.1500 | regular |
| Aug 20, 2024 | Sep 3, 2024 | $1.1500 | regular |
| May 17, 2024 | Jun 3, 2024 | $1.1500 | regular |
| Feb 16, 2024 | Mar 1, 2024 | $1.0500 | regular |
| Nov 16, 2023 | Dec 1, 2023 | $1.0500 | regular |
| Aug 17, 2023 | Sep 1, 2023 | $1.0500 | regular |
| May 19, 2023 | Jun 1, 2023 | $1.0500 | regular |
Income Calculator
At $5.32 / yr per share
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