The current yield at the new level is 4%
The Board of Directors of Philip Morris International Inc. (PM) today increased the company’s regular quarterly dividend by 17.4%, to an annualized rate of $2.16 per common share.
The new quarterly dividend of $0.54 per common share, up from $0.46 per common share, is payable on October 10, 2008, to stockholders of record as of September 15, 2008. The ex-dividend date is September 11, 2008.
This is a rock solid yield on a company growing earnings in the mid-teens. As close to a no-brainer as you can get..
Disclosure (“none” means no position):Long PM
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