This new dividend rate translates to an annual distribution of $6.40 per share. Based on the stock’s closing price of $190.48 on Thursday, the move pushes the annual yield to approximately 3.36%, up from the previous 3.09%. The Stamford, Connecticut-based firm confirmed that the increased payment will be distributed on October 26 to shareholders of record as of October 2.
Philip Morris Boosts Quarterly Dividend Payout
Shareholders of Philip Morris International are set to receive a larger slice of the company’s earnings as the board announced an 8.8% increase in the quarterly dividend. The payout shift, moving from $1.47 to $1.60 per share, marks a significant adjustment for the tobacco giant’s dividend policy.
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