Wednesday, September 15th the Board of Philip Morris International Inc. (PM) announced a quarterly dividend increase of from $ 1.20 to $ 1.25 per share that’s payable October 14, 2021 to holders of record September 29, 2021. This represents a 4.17% increase over the last quarterly dividend.
This is the 14th consecutive year PM’s Board has approved a quarterly dividend increase.
With current price $ 102.12 (today's open), this raise brings their dividend yield to 4.90%.
Philip Morris is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.6, 4.0, 3.2 and 7.1 (Dividend Champions.xls)
Since I own 85 shares of PM, this will increase my portfolio's projected annual net dividend income by $ 12.67.
This increase was in line with my expectations.
This is the eighth dividend increase I've received from Philip Morris since initiating a position January 2014. During this period, the quarterly dividend has risen sufficiently from $ 0.94 to $ 1.25, or 33 percent.
This increase raises my YOC to 5.97%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long PM
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