Philip Morris International hikes its dividend after strong quarter

Oliver Smith
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TOBACCO giant Philip Morris International yesterday announced a 6.4 per cent boost in its dividend and the appointment of three new directors to its board.

Philip Morris reported second quarter profits that beat forecasts in July due to strong European sales.

The maker of Marlboro cigarettes said the increase to its quarterly dividend would result in an annualised rate of $4 per share, with the new $1 quarterly dividend starting on 10 October.

Philip Morris International also welcomed Jun Makihara, Frederik Paulsen and, effective 1 January, Werner Geissler to its board.

“It is my pleasure to welcome Jun, Frederik and Werner to our Board,” said chairman Louis Camilleri. “Their substantial and global business, entrepreneurial and scientific experience perfectly complement the tremendous skills, knowledge and experience of our board.”

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