In the latest trading session, Valero Energy (VLO) closed at $107.98, marking a +1.6% move from the previous day.
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This means the margins they're earning to refine oil into gasoline, diesel, and jet fuel are soaring, giving them gushing profits to pay big-time dividends. Phillips 66 (NYSE: PSX) has been a great dividend stock since its inception a decade ago. The refining, midstream, and chemicals company has increased its dividend 11 times over the last 10 years, growing its payout at an 18% compound annual rate.