The market is down today and most oils, refiners and utilities. It is an up hill battle against the overall market trend. On the brighter side there are a lot of positive things happening with PSX per the conference call. PCX chemicals are doing very well and the company continues to replace high cost feed stock with advantaged US crude for refining. They will be retiring another $1 Billion of debt and the CP Chem also paid off a lot of debt and even with investing CP Chem is paying the dividend to PSX again.
They have raised the dividend already this year but I have a feeling from what they said that they may do it again and then make that the yearly date. The CEO did say they will raise it every year. He wants to look back 10 years from now and be able to say this is the 10th year we raised it.