Philip Morris International Announces 2.4% Increase in Quarterly Dividend

PM 2023 dividend increase

Philip Morris International Inc. (NYSE: PM) has announced that its Board of Directors has approved a 2.4% increase in the company's regular quarterly dividend. The new dividend rate will be an annualized amount of $5.20 per share, reflecting an increase from the previous rate of $5.07 per share.

Shareholders of record as of September 27, 2023, will be eligible to receive the new quarterly dividend of $1.30 per share. The dividend payment is scheduled to be distributed on October 12, 2023. The ex-dividend date for this dividend is set for September 26, 2023.

This marks the 16th consecutive year of increased dividends by PM with a 5 yr CAGR of 2.7%. The dividend yield was 5.38% prior to this new dividend hike announcement with Philip Morris now paying an estimated $8 billion in dividends annually. Earlier also Altria announced a dividend hike. Altria is a Dividend Aristocrat.

For additional dividend information, see

Philip Morris International Inc. (PMI) is a leading global tobacco company that is committed to transforming its industry by offering smoke-free alternatives to cigarettes for adult smokers who would otherwise continue to smoke. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and scientific substantiation, PMI aims to ensure that its smoke-free products meet adult consumer preferences and rigorous regulatory requirements.

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