About Phillips 66 Partners LP (PSXP) — Dividend Analysis 2026
Phillips 66 Partners LP owns, operates, develops, and acquires midstream assets in the United States. It engages in the provision of transportation, terminaling, processing, stevedoring, storage, and fractionation of crude oil, refined petroleum products, and natural gas liquids, as well as rail terminal services. The company was incorporated in 2013 and is headquartered in Houston, Texas. Phillips 66 Partners LP is a subsidiary of Phillips 66 Project Development Inc.
Is PSXP a good dividend investment in 2026?
PSXP offers a 50.89% forward yield with a 50% payout ratio. Strand Safety Score: 78/100 (Safe). The 5-year dividend CAGR of -7.3% is modest — investors should weigh current income against growth alternatives.
PSXP DRIP calculator — what's the difference?
With DRIP on a $10,000 investment over 10 years, your PSXP portfolio grows to $5521.90M vs $34.4K without reinvestment. This is the compound interest effect in action.
PSXP dividend growth history & forecast
PSXP has grown its dividend by 0% over the last year and -7.3% annually over 5 years. At this pace, an investor who holds for 10+ years will see their yield on cost grow substantially above the current 50.89%.
Debt/EBITDA 0.0× — low leverage, balance sheet is strong
Earnings Momentum+0.8B → +0.8B → +0.9B
8 / 30 pts
8/30
Net income is positive but trending down — watch for further deterioration
OVERALL ASSESSMENT
Dividend appears safe — fundamentals solid with moderate concerns.
STRAND SCORE
78
/100
Strand Safety Score™ is proprietary to DividendFlow. Inputs: FCF, Debt/EBITDA, Net Income from SEC filings via FMP. Not financial advice. N/A for ETFs, pre-revenue companies, and tickers without income statements.
🌍 PSXP Yield by Country & Account Type
Real after-tax yield depends on where you live and how you hold PSXP.
Gross yield
50.89%
Tax rate
15.00%
After-tax yield
43.26%
Real yield (−CPI)
40.46%
Account/Country
Tax Rate
After-tax Yield
Real Yield
$10K Annual Income
🇺🇸 Roth IRA / 401k
0%
50.89%
48.09%
$5,089 / yr
🇺🇸 US Taxable (15%) ✓
15%
43.26%
40.46%
$4,326 / yr
🇺🇸 US Taxable (20%)
20%
40.71%
37.91%
$4,071 / yr
🇬🇧 UK ISA
0%
50.89%
48.09%
$5,089 / yr
🇬🇧 UK Taxable
8.75%
46.44%
43.64%
$4,644 / yr
🇨🇦 TFSA
0%
50.89%
48.09%
$5,089 / yr
🇨🇦 CA Taxable
25%
38.17%
35.37%
$3,817 / yr
🇦🇺 Super (pension)
15%
43.26%
40.46%
$4,326 / yr
🇦🇺 AU Taxable
30%
35.62%
32.82%
$3,562 / yr
🇩🇪 DE Taxable
26.375%
37.47%
34.67%
$3,747 / yr
🇫🇷 FR Taxable
30%
35.62%
32.82%
$3,562 / yr
Real yield = after-tax yield minus US CPI of 2.8%. 12-month CPI (US BLS via FMP economic-indicators). Click any row to select. US withholding tax (30%, reducible by treaty) applies to non-US residents holding US stocks in taxable accounts.
🎯 PSXP Income Goal & Break-Even
Dividend Break-Even
3yr
Years for dividends to fully repay your PSXP investment of $42.01/share (🇺🇸 US Taxable (15%) · 15.00% tax)
$10K invested · 10 Years
Dividends earned (DRIP)
$1673.31M
Lost to inflation (2.8% CPI)
−$2.5K
Real purchasing power gain
$1673.31M
12-month CPI (US BLS via FMP economic-indicators).
How much do I need to invest in PSXP for:
Shares needed
1,321
Capital required
$55,495
Monthly income
$2,000
Based on current dividend of $21.38/share/yr · 🇺🇸 US Taxable (15%) · static projection (no growth assumed).
📅 PSXP Dividend Payment Schedule
PSXP pays quarterly — 4 times per year. Next ex-div: TBD.
Jan
Feb
Mar
💰
Apr
May
Jun
💰
Jul
Aug
Sep
💰
Oct
Nov
Dec
💰
10 shares
$45.43 / payment
$181.72 / year after tax
100 shares
$454.29 / payment
$1817.16 / year after tax
1,000 shares
$4542.91 / payment
$18171.64 / year after tax
📊 PSXP vs Energy Benchmarks
How PSXP compares to typical Energy averages.
Benchmark: Energy
Dividend Yield▲+46.29% vs sectorBetter
PSXP
50.89%
avg
4.60%
5Y Dividend CAGR▼-13.10% vs sectorBelow avg
PSXP
-7.30%
avg
5.80%
Payout Ratio▲-2.00% vs sectorBetter
PSXP
50.00%
avg
52.00%
Benchmarks: S&P 500 sector averages (2024–2026). Sources: Morningstar, Bloomberg, NAREIT. 5Y CAGR for PSXP sourced from FMP /financial-growth endpoint — real data, not estimates.
🏛️ PSXP Insider Activity
No recent SEC filings reported in the last 90 days.
📊 About This Data
Dividend yields, payout ratios, and financial metrics are sourced from Financial Modeling Prep (FMP) and cross-referenced with SEC EDGAR filings. Data is cached and updated every 24 hours via our nightly refresh. DRIP projections are forward-looking estimates, not guarantees.
Educational purposes only. Not financial advice. DividendFlow is not a registered investment advisor. Projections generated by the PSXP dividend calculator are estimates based on historical data and user inputs. Actual future returns, stock prices, and dividend payments will vary. Dividends can be cut or suspended at any time. All investments carry risk, including the loss of principal. Please consult a qualified financial professional before making any investment decisions. Full disclaimer →