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Philip Morris International Inc. Declares Regular Quarterly Dividend of $1.27 Per Share
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
The Board of Directors of Philip Morris International (NYSE: PM) has declared a quarterly dividend of $1.27 per share, payable on April 11, 2023, to shareholders of record as of March 23, 2023. The ex-dividend date is March 22, 2023. PMI is focused on a smoke-free future, and since 2008, has invested over USD 10.5 billion in developing smoke-free products. Following the acquisition of Swedish Match (OTC-PINK: SWMAY) in November 2022, PMI aims to lead the global smoke-free market. As of December 31, 2022, roughly 17.8 million adults had switched to IQOS.
Positive
Quarterly dividend of $1.27 per share affirms commitment to return income to shareholders.
Significant investment of over USD 10.5 billion in smoke-free products since 2008 shows PMI's strong growth strategy.
Acquisition of Swedish Match enhances PMI's product portfolio and market leadership in smoke-free products.
Negative
None.
STAMFORD, CT--(BUSINESS WIRE)--
Regulatory News:
The Board of Directors of Philip Morris International Inc. (NYSE: PM) today declared a regular quarterly dividend of $1.27 per common share, payable on April 11, 2023, to shareholders of record as of March 23, 2023. The ex-dividend date is March 22, 2023. For more details on stock, dividends and other information, see www.pmi.com/dividend.
Philip Morris International: Delivering a Smoke-Free Future
Philip Morris International (PMI) is a leading international tobacco company working to deliver a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products. Since 2008, PMI has invested more than USD 10.5 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. In November 2022, PMI acquired Swedish Match – a leader in oral nicotine delivery – creating a global smoke-free champion led by the companies’ IQOS and ZYN brands. The U.S. Food and Drug Administration (FDA) has authorized versions of PMI’s IQOS Platform 1 devices and consumables and Swedish Match’s General snus as Modified Risk Tobacco Products (MRTPs). As of December 31, 2022, PMI's smoke-free products were available for sale in 73 markets, and PMI estimates that approximately 17.8 million adults around the world had already switched to IQOS and stopped smoking. Smoke-free products accounted for approximately 32% of PMI’s total full-year 2022 net revenues. With a strong foundation and significant expertise in life sciences, PMI announced in February 2021 its ambition to expand into wellness and healthcare areas and, through its Vectura Fertin Pharma subsidiary, aims to enhance life through the delivery of seamless health experiences. For more information, please visit www.pmi.com and www.pmiscience.com.
