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Ex-Dividend Date Insight: Phillips 66 Partners

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On January 19, 2021, Phillips 66 Partners (NYSE:PSXP) declared a dividend payable on February 12, 2021 to its shareholders. Phillips 66 Partners also announced that shareholders on the company's books on or before January 29, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Phillips 66 Partners will be on January 28, 2021. The company's current dividend payout is at $0.88. That equates to a dividend yield of 11.37% at current price levels.

The Significance Of An Ex-Dividend Date

Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Phillips 66 Partners's Dividend History

Over the past year, Phillips 66 Partners has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on January 30, 2020 the company's payout was $0.88, which has returned to its value today. Phillips 66 Partners's dividend yield last year was 5.47%, which has since grown by 5.9%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.

To read more news on Phillips 66 Partners click here.

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