Philip Morris International Increases Dividend by 3.8% to Annualized Rate of $5.40 per Share

Rhea-AI Summary

Philip Morris International (NYSE: PM) has announced a 3.8% increase in its regular quarterly dividend to an annualized rate of $5.40 per share. The new quarterly dividend of $1.35 per share will be payable on October 10, 2024, to shareholders of record as of September 26, 2024. This move demonstrates PMI's commitment to delivering value to shareholders while pursuing its smoke-free future strategy.

PMI's current portfolio includes cigarettes and smoke-free products, with the company investing over $12.5 billion since 2008 to develop and commercialize innovative smoke-free alternatives. As of June 30, 2024, PMI's smoke-free products were available in 90 markets, with an estimated 36.5 million adult users globally. The smoke-free business accounted for approximately 38% of PMI's total first-half 2024 net revenues.

Positive

• Dividend increase of 3.8% to $1.35 per share quarterly, demonstrating confidence in financial stability
• Smoke-free products available in 90 markets, indicating strong market penetration
• 36.5 million estimated adult users of PMI's smoke-free products globally
• Smoke-free business accounts for 38% of total first-half 2024 net revenues
• Acquisition of Swedish Match strengthens PMI's position in the smoke-free product market

Negative

• Continued reliance on cigarette sales for majority of revenue
• Potential regulatory challenges for smoke-free products in various markets
• Ongoing transition costs associated with the shift to smoke-free products

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

The Board of Directors of Philip Morris International Inc. (NYSE: PM) has increased the company’s regular quarterly dividend by 3.8% to an annualized rate of $5.40 per share.

The new quarterly dividend of $1.35 per share, up from $1.30 per share, is payable on October 10, 2024, to shareholders of record as of September 26, 2024. The ex-dividend date is September 26, 2024.

For additional dividend 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 and renewal applications for these products are presently pending before the FDA. As of June 30, 2024, PMI's smoke-free products were available for sale in 90 markets, and PMI estimates that 36.5 million adults around the world use PMI's smoke-free products. Smoke-free business accounted for approximately 38% of PMI’s total first-half 2024 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. "PMI" refers to Philip Morris International Inc. and its subsidiaries. For more information, please visit www.pmi.com and www.pmiscience.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240912798480/en/

Philip Morris International

Investor Relations:

Stamford, CT: +1 (203) 905 2413

Lausanne: +41 582 424 666

Email: InvestorRelations@pmi.com



Media: David Fraser

Lausanne: +41 582 424 500

Email: David.Fraser@pmi.com

Source: Philip Morris International

FAQ

What is Philip Morris International's new quarterly dividend amount?

Philip Morris International's new quarterly dividend is $1.35 per share, up from $1.30 per share, representing a 3.8% increase.

When will Philip Morris International (PM) pay its next dividend?

Philip Morris International (PM) will pay its next dividend on October 10, 2024, to shareholders of record as of September 26, 2024.

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

Smoke-free products accounted for approximately 38% of Philip Morris International's (PM) total first-half 2024 net revenues.

How many markets offer Philip Morris International's (PM) smoke-free products?

As of June 30, 2024, Philip Morris International's (PM) smoke-free products were available for sale in 90 markets worldwide.

How much has Philip Morris International (PM) invested in smoke-free product development?

Since 2008, Philip Morris International (PM) has invested over $12.5 billion to develop, scientifically substantiate, and commercialize innovative smoke-free products.