Yesterday September 9th the Board of Directors of Philip Morris International Inc. announced a quarterly dividend increase of from $ 1.17 to $ 1.20 per share that’s payable October 13, 2020 to holders of record September 24, 2020. This represents a 2.56% increase over last quarterly dividend.
With current price $ 80.47 (yesterday's close), this raise brings their dividend yield to 5.96%.
PM is a Dividend Contenders with a 12 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.8, 3.8, 3.4 and 7.6. (Dividend Champions.xls)
Since I own 85 shares of PM, this will increase my portfolio's projected annual net dividend income by $ 7.60.
This increase raises my YOC to 5.73%.
Summary of 2020 Dividend Increases / Cuts
As you can see, some large dividend cuts will have the effect that full-year growth will be negative. I also believe that there will come more cuts during this year.
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long PM
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