Phillip Morris Increases Dividend by 10%


Phillip Morris International (NYSE:PM) swung higher Friday on news that it is raising its quarterly dividend by 10.3% to 64 cents a share.

The increase, payable on October 8 to shareholders of record as of September 24, brings the annualized rate to $2.56 a share.

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The dividend is up from the tobacco company’s earlier dividend of 58 cents a share.

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