Philip Morris International Inc. (NYSE:PM) to Issue Dividend Increase – $1.60 Per Share

Philip Morris International Inc. (NYSE:PM) declared a quarterly dividend on Friday, September 18th. Investors of record on Friday, October 2nd will be given a dividend of 1.60 per share on Monday, October 26th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, October 2nd. This is a 8.8% increase from Philip Morris International’s previous quarterly dividend of $1.47.

Philip Morris International has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 17 years. Philip Morris International has a dividend payout ratio of 71.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Philip Morris International to earn $9.19 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 64.0%.

Philip Morris International Trading Down 1.0%

NYSE:PM traded down $1.92 during midday trading on Friday, hitting $188.56. 7,793,063 shares of the stock were exchanged, compared to its average volume of 5,009,720. Philip Morris International has a one year low of $142.11 and a one year high of $207.76. The company has a market capitalization of $293.90 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.44 and a beta of 0.37. The business has a 50-day moving average price of $189.18 and a two-hundred day moving average price of $178.99.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.15. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the company posted $1.89 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Sell-side analysts forecast that Philip Morris International will post 8.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PM. Morgan Stanley upped their price objective on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Bank of America reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Barclays upped their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.89.

About Philip Morris International

Philip Morris International Inc is a global tobacco and nicotine company headquartered in Stamford, Connecticut. The company develops, manufactures and markets cigarettes, smoke-free products, nicotine products and related consumer offerings in markets around the world.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M and Chesterfield. PMI is also expanding beyond traditional cigarettes through heated-tobacco products, including IQOS, e-vapor products such as VEEV, and oral nicotine products including ZYN, which became part of the company’s portfolio following its acquisition of Swedish Match.

Philip Morris International was established as an independent company in 2008 after being separated from Altria Group, whose U.S.