Philip Morris International Increases Dividend by 8.8%
Philip Morris International (PM) has increased its quarterly dividend by 8.8%, raising it from $1.47 to $1.60 per share, which results in an annual payout of $6.40 per share. The new payment will be distributed on October 26, 2026, for shareholders registered as of October 2. This marks the company's nineteenth consecutive year of dividend increases since its public listing in 2008. The stock has performed well this year, gaining 17% YTD and reaching a 52-week high earlier in July. The recent FDA approvals for ZYN nicotine pouches have supported Philip Morris International’s shift toward smoke-free products like IQOS heated-tobacco devices. These regulatory wins are helping the company diversify its revenue base as it continues to grow its non-cigarette offerings. The second-quarter results showed strong performance, with total shipments up 2.5%, driven by a 7.5% increase in smoke-free product sales. Revenue rose 10.4% year-over-year to $11.2 billion, and the company expects organic revenue growth of between 5% and 7% for 2026.
Topics: consumer_staples dividends tobacco