Philip Morris International As of October 10, 2023 ticker dps (an.) 2023 hike 2022 hike 2021 hike
PM $5.20 2.4% 1.6% 4.2%
Business yield Hike yrs 5 yr CAGR freq. paid since
Smoking Products 5.5% 16 2.7% Quarter 2008
PM last hiked its dividend by double digits in 2013 | image: company investor presentation
PM last hiked its dividend by double digits in 2013 | image: company investor presentation

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
Ticker symbol PM
ISIN-code US7181721090
company website
Sector Consumer Staples
Business Smoking Products
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
Dividend yield* 5.4%
Stock price* $94.02
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
© *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.