By Colin Kellaher

 

Philip Morris International Inc. on Wednesday said its board raised the quarterly dividend by 4.2%, to $1.25, from $1.20.

The new payout, equal to $5 a year, represents an annual yield of about 4.9% based on Tuesday's closing price of $101.96, up from 4.71%.

The New York tobacco company said the increased dividend is payable Oct. 14 to shareholders of record Sept. 29.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 15, 2021 07:31 ET (11:31 GMT)

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