Wednesday, September 11, 2013
Dividend Increase: PM
Philip Morris International (PM) is increasing its quarterly dividend by 10.6%, from $0.85 to $0.94 per share, putting the company on track for its 6th consecutive year of dividend growth (news release). Given that I own 50 shares of PM, my quarterly dividend increases from $42.50 to $47.00 and my yield on cost becomes 5.58%. The extra $18.00 in annual dividend income raises my forward 12-month dividend total to $2,745. Thus far this year, there have been dividend increases for 23 of the 29 stocks in my portfolio.