Wednesday, September 12, 2012
Dividend Increase: PM
Philip Morris International (PM) is increasing its quarterly dividend by 10.4%, from $0.77 to $0.85 per share, putting the company on track for its 5th consecutive year of dividend growth. Given that I own 50 shares of PM, my quarterly dividend increases from $38.50 to $42.50, which will add an extra $16.00 to my annual dividend income. This dividend increase also boosts my yield on cost to 5.05%. Thus far this year, there have been dividend increases for 18 of the 22 dividend growth stocks in my portfolio.