There are a handful of "Bakken" contributors over at SeekingAlpha that are particularly good; Mike Fitzsimmons is one of them.
The headline suggests Phillips 66 is an outstanding dividend growth stock.
In the last couple of days, on a couple of different occasions, I posted comments about the dividend phenomenon noted this past earnings season. It's nice to see this observation validated. The dividend announcement that really surprised me was the one by Baker Hughes: the company is raising its dividend for the first time since 2008. That speaks volumes. Then the Phillips 66 article: the company has raised its dividend four times since 2012 (and they were increases of 25%, not trivial; the most recent announcement was an exception: 28%).
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Other data points from the linked article:
- in addition to the dividend story, PSX has appreciated 150% since its spin-off just two years ago
- another 13% growth anticipated for this year
- company plans to double its size within five years (that certainly fits the North American energy revolution, a "big story" followed at the link)
One data point:
- building an LPG export facility near its Sweeny, TX, refinery
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