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
09-15-21 0731ET