On september 14, 2022, Philip Morris International (PM) declared a 1.6% dividend hike to $1.27 per share quarterly. This follows a dividend hike of 4.2 percent to $1.25 per share in 2021 and marks 15 consecutive years of dividend growth by the tobacco company. The average 5 year CAGR for the dividend is just 3.5% now.
The new quarterly dividend of $1.27 per share, up from $1.25 per share, is payable on October 12, 2022, to shareholders of record as of September 28, 2022. The ex-dividend date is September 27, 2022. A new annual dividend rate of $5.08 per share yields 5.4% to PM shareholders at a stock price of $94. Last month fellow tobacco co Altria, a Dividend Aristocrat, announced a dividend hike of 4.4%.
|Philip Morris Int. (PM) Dividend history & growth statistics|
|Company name||Philip Morris International Inc|
|Dividend paid since||2008|
|Track record (years increased)||15|
|Payment Frequency||Quarterly dividend|
|Dividend growth: 5 year average||3.5%|
|Next dividend per share||$1.25|
|Annual dividend per share||$5.08|
|YTD Total Return*||1.6%|
|Next ex-dividend date||June 30, 2022|
|Next payment date||July 15, 2022|
|Market cap (in $B)*||145.75|
|Total dividend (in $B)||7.87|
|© www.dividendhike.com||*As of September 14, 2022|
Phillip Morris International will now pay an estimated $7.9 billion in dividends to shareholders annually. The 5 year dividend growth rate has slowed to 3.5 percent annually, down from 3.7 percent in 2021, while the 10 year CAGR for PM's dividend is +5.0 percent. PM last hiked the dividend by double digits in 2010, 2011, 2012 and 2013.
Philip Morris International is engaged in the manufacture and sale of cigarettes, smoke-free products and associated electronic devices and accessories, 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. The company's smoke-free product brand portfolio includes heated tobacco and nicotine-containing vapor products. Brands include IQOS, HEETS, Marlboro HeatSticks. Philip Morris International Inc. is a Virginia holding company incorporated in 1987.