Philip Morris International’s (PMI) Board of Directors increased the company’s regular quarterly dividend by 8.8% to $1.60 per share, or an annualized rate of $6.40 per share, up from $1.47. The dividend is payable Oct. 26, to shareholders of record as of Oct. 2, with an ex-dividend date of Oct. 2.
PMI said it has increased its annual dividend every year since becoming a publicly traded company in 2008. The latest increase brings the company’s cumulative dividend increase since its IPO to 248%, representing a compound annual growth rate of 7.2%.
