Phillips 66 Sees 2019 Adj. Capital $3.3B-$3.6B

"Phillips 66 reiterates its commitment to disciplined capital allocation. The company expects 2019 adjusted capital of $3.3 billion to $3.6 billion, which includes a new Marketing joint venture. For

Benzinga · 11/06/2019 13:11

"Phillips 66 reiterates its commitment to disciplined capital allocation. The company expects 2019 adjusted capital of $3.3 billion to $3.6 billion, which includes a new Marketing joint venture. For 2020, adjusted capital is estimated to be between $3 billion and $3.5 billion. Phillips 66 is focused on continued strong shareholder distributions including a secure, competitive and growing dividend, along with an intrinsic value approach to share repurchases. The company's long-term objective is to reinvest 60% of operating cash flow back into the business and return 40% to shareholders.