By Colin Kellaher

 

Philip Morris International's board has raised the tobacco company's quarterly dividend by 2.4%, to $1.30 from $1.27.

The new payout, equal to $5.20 a year, represents an annual yield of about 5.51% based on Tuesday's closing price of $94.45, up from 5.38%.

The Stamford, Conn., company said the increased dividend is payable Oct. 12 to shareholders of record Sept. 27.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 13, 2023 06:24 ET (10:24 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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