These Were Last Week’s 10 Best Dividend Stocks

7. Phillips 66 (NYSE:PSX)

Dividend yield: 3.53%

Dividend payout ratio: 90.18%

Ex-Dividend Date: February 24, 2025

Number of Hedge Funds: 40

The stock price of Phillips 66 (NYSE:PSX) climbed by 5.32% over the last week from February 10 to February 14, 2025.

The company has been increasing its ownership of DCP midstream to achieve its EBITDA goal of $14 billion before the end of 2025. Additionally, the company’s advancement in low-carbon fuels also contributes to its market value growth. As part of the advancement, Phillips 66 (NYSE:PSX) signed an agreement to supply sustainable aviation fuel (SAF) to United Airlines at Chicago O’Hare International Airport (ORD) and Los Angeles International Airport (LAX). The agreement initially involved a supply of 3 million gallons of SAF for use at ORD. However, both parties expect an increase in the supply to 8 million gallons through the first half of 2025, creating value for the company.

Phillips 66 (NYSE:PSX) offers a dividend yield of 3.53%, with a dividend payout ratio of 90.18%. Though the company covers its dividend payments with earnings, the payout ratio suggests that it can retain less than 10% of its profits. With 40 hedge fund portfolios owning stakes in the company at the end of Q3 2024, as per Insider Monkey, institutional interest in the stock appears stronger than most companies on our list. Dividend-focused investors can purchase shares before February 24, 2025, the ex-dividend date.