Does Phillips 66 intend to pay cash dividends? A: Yes. Phillips 66 intends to pay a cash dividend at an initial rate of $0.20 per share per quarter, or $0.80 per share per year, beginning in the third quarter of 2012. The declaration and amount of all future dividends, however, will be determined by Phillips 66 Board of Directors and will depend on their financial condition, earnings, capital requirements, covenants associated with certain debt obligations, legal requirements, regulatory constraints, industry practice and any other factors that our Board of Directors believes are relevant. This is on COP website. Also contians an example of how to figure cost basis for new cop and P.