Philip Morris International Raises Quarterly Dividend 8.8% to $1.60 Per Share

Philip Morris International (PM) raised its quarterly dividend 8.8% to $1.60 per share from $1.47, lifting the annual payout to $6.40. Shareholders of record as of Oct. 2 will receive payment on Oct. 26, 2026. The tobacco company's stock has gained 17% year-to-date, outpacing the 8% rise in the Consumer Staples Select Sector SPDR Fund (XLP), and hit a 52-week high of $207.76 in late July. PM trades at 22.2x forward earnings versus the sector's 14.6x average. The increase is supported by second-quarter shipments growth of 2.5%, led by a 7.5% rise in smoke-free products. Revenue climbed 10.4% to $11.2 billion, while adjusted diluted EPS rose 15.2% to $2.20. Smoke-free products accounted for about 42% of sales. The FDA authorized 11 ZYN ULTRA nicotine pouch products in August. All 14 analysts covering PM rate it a consensus "Moderate Buy," with an average price target of $207.07. Third-quarter results are due Oct. 20.