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The board of directors of Phillips 66 has declared a quarterly dividend of 97 cents per share on Phillips 66 common stock, representing a 5% increase. The dividend is payable on June 1, 2022, to shareholders of record as of the close of business on May 23, 2022. "We are increasing our dividend this quarter as we resume our cadence of annual dividend increases. This dividend increase, along with the recently announced resumption of our share repurchase program, demonstrates our continuing commitment to shareholder returns. We have increased the dividend 11 times since our inception in 2012, resulting in an 18% compound annual growth rate," said Phillips 66 Chairman and CEO Greg Garland. "Additionally, we paid down $1.45 billion of debt in April and plan to repay additional debt this year."

Psychemedics, the world's largest provider of hair testing for drugs of abuse, today announced financial results for the first quarter ended March 31, 2022, and the declaration of a cash dividend of $0.07 per share to be paid on June 24, 2022, to shareholders of record as of May 27, 2022.

The 3M Board of Directors today declared a dividend on the company's common stock of $1.49 per share for the second quarter of 2022. The dividend is payable June 12, 2022, to shareholders of record at the close of business on May 20, 2022. MMM has paid dividends to its shareholders without interruption for more than 100 years. As of March 31, 2022, 3M had 569,058,849 common shares outstanding and 64,941 shareholders of record.

Prudential Financial announced today the declaration of a quarterly dividend of $1.20 per share of Common Stock, payable on June 16, 2022, to shareholders of record at the close of business on May 24, 2022.

Danaher announced today that its Board of Directors has approved a regular quarterly cash dividend of $0.25 per share of its common stock, payable on July 29, 2022 to holders of record on June 24, 2022.

For MarketNewsVideo.com, I'm Sayoko Murase.