By Colin Kellaher
Philip Morris International Inc. (PM) on Wednesday said its board raised the quarterly dividend by 2.6% to $1.17 from $1.14.
The new payout, equal to $4.68 a year, represents an annual yield of about 6.28% based on Tuesday's closing price of $74.50, up from about 6.12%.
The New York tobacco company said the increased dividend is payable Oct. 11 to shareholders of record Sept. 25.
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