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VLO - Phillips 66: Another Reason To Love This Dividend Growth Aristocrat
Valero Energy Corporation
Phillips 66 (PSX) has been a top performer - both in terms of stock price appreciate and dividend growth - since its spin off from ConocoPhillips (COP) back in 2012:
The recent 12.5% rise in the dividend and $3 billion share buyback plan indicate the company is by no means resting on past laurels. And yet another reason has emerged to like the company today: Multiple expansion.
A "50/50" Refiner
According to PSX's recent August Investor Update, year-to-date segment adjusted EBITDA results are as follows: