NEW YORK--(BUSINESS WIRE)--The Board of Directors of Philip Morris International Inc. (NYSE: PM) today increased the company’s regular quarterly dividend by 6.5% to an annualized rate of $4.56 per share.
The new quarterly dividend of $1.14 per share, up from $1.07 per share, is payable on July 11, 2018, to shareholders of record as of June 22, 2018. The ex-dividend date is June 21, 2018.
“This decision reflects the Board’s confidence in the growth outlook of the company’s business, underpinned by the potential of its smoke-free products, and underscores the Board’s steadfast commitment to generously reward shareholders over time,” said Louis C. Camilleri, Chairman of the Board.
This is the eleventh consecutive year in which PMI has increased its dividend, representing a total increase of 147.8%, or a compound annual growth rate of 9.5%, since PMI became a public company in 2008.
For more details on stock, dividends and other information, see www.pmi.com/dividend.
Philip Morris International: Who We Are
We are a leading international tobacco company engaged in the manufacture and sale of cigarettes and other nicotine-containing products in markets outside the United States of America. We’re building our future on smoke-free products that are a much better consumer choice than continuing to smoke cigarettes. Through multidisciplinary capabilities in product development, state-of-the-art facilities and scientific substantiation, we aim to ensure that our smoke-free products meet adult consumer preferences and rigorous regulatory requirements. Our vision is that these products ultimately replace cigarettes to the benefit of adult smokers, society, our company and our shareholders. For more information, see www.pmi.com and www.pmiscience.com.