By Matt Grossman
Philip Morris International Inc.'s board of directors has authorized a share-repurchase program of up to $7 billion, the company said Friday.
The program targets spending of between $5 billion and $7 billion over three years, the New York City-based tobacco company said.
The company also declared a regular quarterly dividend of $1.20 a share to be paid on July 12.
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(END) Dow Jones Newswires