Bulletin
Investor Alert

Market Pulse Archives

Sept. 11, 2019, 6:40 a.m. EDT

Philip Morris raises dividend; yield is more than triple the S&P 500

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Philip Morris International Inc. (PM)
  • X
    Consumer Discretionary Select Sector SPDR ETF (XLY)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Philip Morris International Inc. /zigman2/quotes/201611010/composite PM +0.88% said Wednesday it has raised its quarterly dividend to $1.17 a share, up 2.6% from the previous dividend of $1.14 a share. The tobacco company's new dividend will be payable Oct. 11 to shareholders of record on Sept. 25. Based on Tuesday's stock closing price of $74.50, the new annual dividend rate of $4.68 a share implies a dividend yield of 6.28%, which compares with the yield for the SPDR Consumer Discretionary Select Sector ETF /zigman2/quotes/200844504/composite XLY -0.20% of 1.23% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.39% of 1.97%, according to FactSet. Philip Morris's stock, which is still inactive in premarket trading, has slipped 3.8% over the past 12 months, while the consumer discretionary ETF has gained 5.1% and the S&P 500 has tacked on 3.2%.

/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 80.55
+0.70 +0.88%
Volume: 8.44M
Oct. 18, 2019 6:30p
P/E Ratio
16.77
Dividend Yield
5.81%
Market Cap
$125.32 billion
Rev. per Employee
$382,519
loading...
/zigman2/quotes/200844504/composite
US : U.S.: NYSE Arca
$ 122.17
-0.24 -0.20%
Volume: 2.06M
Oct. 18, 2019 8:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,986.20
-11.75 -0.39%
Volume: 1.99B
Oct. 18, 2019 5:08p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.