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.
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Ex-dividend date of 9/24....Just enough time to move money around and finally start a position.
ReplyDeleteBidAsk: Indeed -- too bad the price jumped a bit today, though.
DeleteI was predicting a bump to $0.93. Glad I was wrong.
ReplyDeleteChad: I predicted an even smaller increase. It's always nice to find out my guess was too conservative.
DeleteSince my working pay has been cut 24% since 2009, it is nice getting a pay raise.
ReplyDeleteAnonymous: Dividend growth investing is the only way I know of to get multiple pay raises every year. It's a very motivational aspect of the strategy.
DeleteGreat New!!
ReplyDeleteFFD: Yes it is -- I'm always happy to see a dividend increase announced!
DeleteGood stuff. I wasn't sure PM's dividend growth was going to be double digit this year, nice surprise. I've learned that big tobacco will not let shareholders down very often.
ReplyDeleteCongrats on beating last years dividend tally with almost 4 months left. That is awesome!
CI: I was also surprised at the double-digit percent increase. Maybe management sees signs that earnings are improving.
DeleteYep, it feels good to beat last year's dividend total. I look forward to seeing where I finish the year.