Tobacco company Philip Morris International (PM) will raise its quarterly dividend by 6.4 percent to $1.00 per share in 2014.

The new quarterly dividend of $1.00 per share, up from $0.94 per share, is payable on October 10, 2014, to stockholders of record as of September 25, 2014. The ex-dividend date is September 23, 2014. 

Philip Morris International is engaged in the manufacture and sale of cigarettes and other nicotine-containing products in markets outside the United States of America. The company's brands include Marlboro, L&M, Lark, Merit, Muratti, Philip Morris, Bond Street, Chesterfield, Next and Red & White. PMI also owns various other local cigarette brands and has a strong presence in emerging markets.