PSX · 10-Q · 2026Q2 · Full report

Capital Return Program

Phillips 66 · 2026-08-05 · Importance 52 · Surprise 42 · In source text

Phillips 66 paid $508 million of common-stock dividends and repurchased $379 million of common stock in the second quarter of 2026. During the first six months, the company returned $1.7 billion to shareholders through $1.0 billion of dividends and $0.6 billion of repurchases. The board declared quarterly dividends of $1.27 per common share in April and July 2026. In July 2026, the board increased the share-repurchase authorization by $10 billion, bringing aggregate authorizations since July 2012 to $35 billion.

Key facts

• On July 29, 2026 our Board of Directors approved a $10 billion increase to our share repurchase authorization. source
• In July 2026, Phillips 66's Board approved a $10 billion increase to the company's share repurchase authorization. source
• Phillips 66's financial target aims to return greater than 50% of net cash provided by operating activities, excluding working capital, to shareholders through share repurchases and dividends. source
• Since July 2012 our Board of Directors has authorized an aggregate of $35 billion of repurchases of our outstanding common stock under our share repurchase program. source
• Since July 2012, Phillips 66's Board has authorized an aggregate of $35 billion of repurchases under its share repurchase program. source
• Since July 2012 we have repurchased 252 million shares under our share repurchase program at an aggregate cost of $23.3 billion. source
• Phillips 66 repurchased $379 million of its common stock in the second quarter of 2026. source
• Phillips 66 paid dividends of $508 million to common stockholders in the second quarter of 2026. source

Impact estimates