Philip Morris International (PM) will raise its quarterly dividend by 2 percent to $1.04 per share. The new quarterly dividend of $1.04 per share, up from $1.02 per share, is payable on October 13, 2016, to stockholders of record as of September 28, 2016. The ex-dividend date is September 26, 2016. 

Since becoming a public company in 2008, PMI has increased its annual dividend nine consecutive times, representing a total increase of 126.1% or a compound annual growth rate of 10.7%.

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.