Philip Morris International Inc. raised its quarterly dividend by 8.8% to $1.60 per share, or $6.40 annualized, extending a record of annual dividend increases every year since becoming public in 2008 at a 7.2% compound annual growth rate. At the current share price the new payout yields roughly 3.4%, and the company said the increase is supported by second-quarter organic revenue growth of nearly 8% and a 14% rise in adjusted diluted EPS on a currency-neutral basis. Smoke-free products accounted for 42% of PMI's total revenue in H1 2026, with ZYN shipments reaching 2.9 billion pouches in the second quarter, while the company forecasts approximately $13.5 billion of operating cash flow for 2026 against expected capital expenditures of only $1.4 billion to $1.6 billion. The main concern is that the 3.4% yield is not especially high relative to PMI's historical income appeal, and the company still expects cigarette shipment volumes to decline by around 3% in 2026, making continued smoke-free growth essential to funding both investment and rising shareholder distributions.
Philip Morris International IncPMI raised its quarterly dividend 8.8% to $1.60 per share, supported by strong Q2 organic revenue and EPS growth.
