NEW YORK--(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 2.9% to an annualized rate of $4.28 per share.
The new quarterly dividend of $1.07 per share, up from $1.04 per share, is payable on October 12, 2017, to shareholders of record as of September 27, 2017. The ex-dividend date is September 26, 2017.
This is the tenth consecutive year in which PMI has increased its dividend, representing a total increase of 132.6%, or a compound annual growth rate of 9.8%, since PMI became a public company in 2008.
Investors are advised that the ex-dividend dates have been adjusted as a result of an amendment adopted by the SEC to Rule 15c6-1 under the Securities Exchange Act of 1934 that shortens the settlement cycle from three business days after Trade (T+3) to two business days after the trade (T+2), effective September 5, 2017, and will affect ex-date changes for any record dates as of September 7, 2017, and going forward. The ex-dividend date will now be one business day prior to the record date.
For more details on stock, dividends and other information, see www.pmi.com/dividend.
About Philip Morris International Inc. (“PMI”)
PMI is a leading international tobacco company, with six of the world's top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the development and commercialization of reduced-risk products (“RRPs”). RRPs is the term PMI uses to refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continued smoking. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and industry-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements. For more information, see www.pmi.com and www.pmiscience.com.