TOKYO--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Philip Morris International Inc. (NYSE/Euronext Paris:PM), today increased the company’s regular quarterly dividend by 2% to an annualized rate of $4.08 per share.
The new quarterly dividend of $1.02 per share, up from $1.00 per share, is payable on October 14, 2015, to stockholders of record as of September 30, 2015. The ex-dividend date is September 28, 2015. For more details on stock, dividends and other information, see www.pmi.com/investors.
The company also announces that the Board of Directors has amended the company’s bylaws to enable eligible shareholders, who have owned three or more percent of the company’s shares for at least three years, to nominate and include in the company’s proxy statement director candidates to occupy up to 20% of the available Board seats. The amended bylaws will be made available promptly on the company’s website.
Louis C. Camilleri, Chairman of the Board, said: “The Board decided to take this proactive step to grant proxy access to eligible long-term shareholders as part of its commitment to strong corporate governance practices. We will continue to maintain a diverse and dynamic Board of the highest caliber that can best perpetuate the success of our business and represent the long-term interests of our shareholders through the exercise of sound business judgment.”
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international tobacco company, with six of the world’s top 15 international brands, including Marlboro, the number one cigarette brand worldwide. PMI’s products are sold in more than 180 markets. In 2014, the company held an estimated 15.6% share of the total international cigarette market outside of the U.S., or 28.6% excluding the People’s Republic of China and the U.S. For more information, see www.pmi.com.