Philip Morris Int. Declares $1.30 Dividend

Philip Morris International Inc. has 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 also June 21, 2024.

The company's product portfolio primarily consists of cigarettes and smoke-free products. Since 2008, Philip Morris International 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.

In 2022, Philip Morris International acquired Swedish Match, a leader in oral nicotine delivery, creating a global smoke-free champion led by the companies' IQOS and ZYN brands. As of December 31, 2023, Philip Morris International's smoke-free products were available for sale in 84 markets, and it estimates that approximately 33 million adults around the world use its smoke-free products. The smoke-free business accounted for approximately 37% of Philip Morris International's total full-year 2023 net revenues.

The company also announced 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. The market has reacted to these announcements by moving the company's shares -0.4% to a price of $103.81. Check out the company's full 8-K submission here.

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