Philip Morris International (PM) Announces New Three-Year Share Repurchase Program of up to $7 Billion, With Target Spending of $5 to $7 Billion

Philip Morris International (PMI) Announces New Three-Year Share Repurchase Program of up to $7 Billion, With Target Spending of $5 to $7 Billion; Declares Regular Quarterly Dividend of $1.20 Per Shar

NEW YORK--(BUSINESS WIRE)-- Regulatory News:

The Board of Directors of Philip Morris International Inc. (NYSE: PM) today authorized a new share repurchase program of up to $7 billion, with target spending of $5 to $7 billion over a three-year period expected to commence after the companys second-quarter 2021 earnings call.

The Board of Directors also declared a regular quarterly dividend of $1.20 per common share, payable on July 12, 2021, to shareholders of record as of June 25, 2021. The ex-dividend date is June 24, 2021.

Since our spin-off in March 2008, we have returned, on a cumulative basis, approximately $115 billion to our... More