PSX - Phillips 66 plans to return $10B -$12B to shareholders by 2024 end

• Phillips 66 ( NYSE: PSX ) plans to return an additional $10B -$12B to shareholders by the end of 2024 through a combination of dividends and share repurchases, the energy company announced on Wednesday ahead of its investor day meeting.
• The board also authorized a $5B increase to its share repurchase program, bringing the total amount of share repurchases authorized since 2012 to an aggregate of $20B.
• Over the next three years, the firm plans to increase adjusted EBITDA by $3B, which it hopes to achieve through its proposed 87% interest in DCP Midstream, execution of Rodeo Renewed and other projects, as well as sustainable cost reductions of $1B from its Business Transformation.
• PSX shares have gained marginally premarket and ~33% over the past year
• Take a look at the firm's recent quarterly performance

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