Philip Morris International Inc. (NYSE: PM) has declared a regular quarterly dividend of $1.35 per common share, payable on January 13, 2025, to shareholders of record as of December 26, 2024. The ex-dividend date is also December 26, 2024.
Since 2008, Philip Morris International (PMI) has invested over $12.5 billion to develop, scientifically substantiate, and commercialize innovative smoke-free products for adults. As of June 30, 2024, PMI's smoke-free products were available for sale in 90 markets, and an estimated 36.5 million adults around the world use these products. The smoke-free business accounted for approximately 38% of PMI’s total first-nine months 2024 net revenues.
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, as well as Swedish Match’s general snus, as modified risk tobacco products. Renewal applications for these IQOS products are pending before the FDA.
PMI has also announced its ambition to expand into wellness and healthcare areas and aims to enhance life through the delivery of seamless health experiences. With a strong foundation and significant expertise in life sciences, PMI is evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. Following these announcements, the company's shares moved 0.3%, and are now trading at a price of $127.14. For more information, read the company's full 8-K submission here.
