Philip Morris International Inc. (PM), through its subsidiaries, manufactures and sells cigarettes and other tobacco products. Its portfolio of international and local brands include Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris, and Red & White.
The company was created after the spin-off of Altria Group’s (MO) international operations in 2008. The spin-off was orchestrated in an effort to separate international operations from regulation and litigation risk in the US. Philip Morris International has managed to boost distributions in each year since the spin-off. Quarterly distributions have increased from 46 cents/share in 2008 to 77 cents/share in 2011.
Full Disclosure: Long PM and MO
- Altria Group (MO): High Dividend Growth Stock
- Philip Morris International versus Altria
- Three Companies expecting high dividend growth and returns
- Phillip Morris International Delivers Another Smoking Hot Dividend Increase
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