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Sept. 14, 2022, 8:39 a.m. EDT

Philip Morris raises dividend to boost implied yield to 5.4%

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By Tomi Kilgore

Shares of Philip Morris International Inc. /zigman2/quotes/201611010/composite PM +1.80% tacked on 0.9% in premarket trading Wednesday, after the cigarette and heated-tobacco products company raised its quarterly dividend by 1.6%, to $1.27 a share from $1.25 a share. The new dividend will be payable Oct. 12 to shareholders of record on Sept. 28. Based on Tuesday's stock closing price of $94.02, the new annual dividend rate implies a dividend yield of 5.40%, which compares with the yield for the SPDR Consumer Staples Select Sector ETF /zigman2/quotes/200697959/composite XLP +0.46% of 2.51% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.12% of 1.68%. Philip Morris' stock has gained 19.2% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.12% has dropped 17.5%.

/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 104.30
+1.84 +1.80%
Volume: 5.85M
Dec. 2, 2022 4:00p
P/E Ratio
18.58
Dividend Yield
4.87%
Market Cap
$161.69 billion
Rev. per Employee
$453,075
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/zigman2/quotes/200697959/composite
US : U.S.: NYSE Arca
$ 77.19
+0.35 +0.46%
Volume: 6.09M
Dec. 2, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,071.70
-4.87 -0.12%
Volume: 0.00
Dec. 2, 2022 5:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,071.70
-4.87 -0.12%
Volume: 0.00
Dec. 2, 2022 5:10p
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