Philip Morris International Inc. (NYSE:PM) Announces Dividend Increase – $1.17 Per Share

Philip Morris International Inc. (NYSE:PM) announced a quarterly dividend on Wednesday, September 11th, RTT News reports. Shareholders of record on Wednesday, September 25th will be paid a dividend of 1.17 per share on Friday, October 11th. This represents a $4.68 annualized dividend and a yield of 6.27%. The ex-dividend date is Tuesday, September 24th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14.

Philip Morris International has raised its dividend payment by an average of 3.2% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Philip Morris International has a dividend payout ratio of 91.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Philip Morris International to earn $5.62 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 81.1%.

Philip Morris International stock traded down $0.39 on Thursday, hitting $74.68. 111,932 shares of the stock traded hands, compared to its average volume of 5,754,269. The firm has a market cap of $114.04 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The business’s fifty day simple moving average is $80.12 and its 200 day simple moving average is $83.07. Philip Morris International has a 1 year low of $64.67 and a 1 year high of $92.74.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts forecast that Philip Morris International will post 5.22 EPS for the current year.

In related news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

A number of research firms have issued reports on PM. JPMorgan Chase & Co. set a $86.00 price target on Philip Morris International and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the company a “buy” rating in a report on Monday, August 26th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, September 4th. Bank of America upgraded shares of Philip Morris International from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $81.00 to $94.00 in a report on Friday, May 17th. Finally, ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $93.77.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Dividend History for Philip Morris International (NYSE:PM)

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