PMI increases quarterly dividend

The board of directors of Philip Morris International today increased the company’s regular quarterly dividend by two percent to an annualized rate of $4.16 per share.

The new quarterly dividend of $1.04 per share, up from $1.02 per share, is payable on October 13 to stockholders of record as of September 28.

The ex-dividend date is September 26.

PMI said in a note posted on its website that, since becoming a public company in 2008, it had increased its annual dividend nine consecutive times, representing a total increase of 126.1 percent or a compound annual growth rate of 10.7 percent.