9/16/2015 Tobacco giant, Philip Morris International (PM) announced their dividend increase for the year of just 2% to a new quarterly amount of $1.02 per share from a previous $1.00. This is $0.03 below my already low expectations and the lowest increase from a pure dollar or percentage amount since the company’s spin off. PM’s earnings in the past year have been hurt largely by exchange rates on the strength of the US $. Whenever the dollar weakens against foreign currencies, earnings from PM should get a bump. This increase continues Philip Morris streak of dividend increases going back to 2008, since the company was spun off from Altria. While the increase is a disappointment, it still maintains pace with current inflation levels.
Previous dividend history was $0.85, $0.94, and $1.00 per quarter in 2012, 2013, and 2014 respectively.Follow me on the social medias: