Philip Morris International Inc. Declares Regular Quarterly Dividend of $1.30 Per Share

Rhea-AI Summary

Philip Morris International (PMI) declared a regular quarterly dividend of $1.30 per share, payable on July 8, 2024, to shareholders of record by June 21, 2024. PMI is focusing on a smoke-free future, investing over $12.5 billion since 2008 in the development and commercialization of smoke-free products. The company's smoke-free products make up 37% of their total revenue and are available in 84 markets. PMI acquired Swedish Match in 2022, further solidifying its position in the smoke-free market with brands like IQOS and ZYN. PMI is also expanding into wellness and healthcare through Vectura Fertin Pharma.

Positive

• Quarterly dividend of $1.30 per share payable on July 8, 2024.
• 37% of PMI's 2023 revenue derived from smoke-free products.
• PMI's smoke-free products available in 84 markets.
• Significant investment of over $12.5 billion in smoke-free product development.
• Acquisition of Swedish Match in 2022, enhancing the company's smoke-free portfolio.
• FDA authorization of IQOS and General snus as Modified Risk Tobacco Products.
• Expansion into wellness and healthcare via Vectura Fertin Pharma.

Negative

• High reliance on smoke-free products for 37% of revenue could pose a risk if market conditions change.
• Significant financial investments ($12.5 billion) required for developing smoke-free products may impact cash flow.

STAMFORD, CT--(BUSINESS WIRE)-- Regulatory News:

The Board of Directors of Philip Morris International Inc. (NYSE: PM) today declared a regular quarterly dividend of $1.30 per common share, payable on July 8, 2024, to shareholders of record as of June 21, 2024. The ex-dividend date is June 21, 2024. 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, actively delivering 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 over $12.5 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 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 has authorized versions of PMI’s IQOS devices and consumables and Swedish Match’s General snus as Modified Risk Tobacco Products. As of December 31, 2023, PMI's smoke-free products were available for sale in 84 markets, and PMI estimates that approximately 33 million adults around the world use PMI's smoke-free products. Smoke-free business accounted for approximately 37% of PMI’s total full-year 2023 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 business, aims to enhance life through the delivery of seamless health experiences. For more information, please visit www.pmi.com and www.pmiscience.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606162052/en/

Philip Morris International

Investor Relations:

Stamford, CT: +1 (203) 904 2410

Lausanne: +41 (0)58 242 4666

Email: InvestorRelations@pmi.com

Media: David Fraser

Lausanne: +41 (0)58 242 4500

Email: David.Fraser@pmi.com

Source: Philip Morris International

FAQ

What is the quarterly dividend declared by Philip Morris International for 2024?

Philip Morris International declared a regular quarterly dividend of $1.30 per share, payable on July 8, 2024.

When is the record date for Philip Morris International's dividend?

The record date for Philip Morris International's dividend is June 21, 2024.

What percentage of Philip Morris International's revenue comes from smoke-free products?

Approximately 37% of Philip Morris International's total full-year 2023 net revenues come from smoke-free products.

How many markets are Philip Morris International's smoke-free products available in?

Philip Morris International's smoke-free products are available in 84 markets worldwide.

What significant acquisition did Philip Morris International make in 2022?

In 2022, Philip Morris International acquired Swedish Match, a leader in oral nicotine delivery.

What FDA authorizations has Philip Morris International received for its products?

The U.S. FDA has authorized versions of Philip Morris International's IQOS devices and Swedish Match's General snus as Modified Risk Tobacco Products.

What is Philip Morris International's goal regarding cigarette sales?

Philip Morris International aims to completely end the sale of cigarettes.

What new business areas is Philip Morris International expanding into?

Philip Morris International is expanding into wellness and healthcare through its Vectura Fertin Pharma business.