Philip Morris International (PM) recently raised its dividend by 20.3%! The new quarterly dividend is $0.77 per share, which is $3.08 annualized. This is a pretty hefty increase from the old quarterly dividend of $0.64.
This 20.3% raise in my dividend income from PM is just one reason why I love dividend growth investing! This is, effectively, like getting a 20% raise at work. The main difference is that I didn't have to do ANYTHING to receive this raise. I didn't have to kiss up to my boss, show up early, stay late or complete an extra project. The only thing I had to do was invest with PM, a high quality international tobacco company that I'm fairly bullish on.
The current yield as of close today on PM is 3.79%, which while pretty strong, is actually fairly low among tobacco companies. The yield based on the new payout is 4.55%. That is a great entry yield for a company that has excellent long-term prospects, in my opinion.
I'm currently long on PM, and am considering adding to my position. I think it's a solid company, and it's a major international player in the tobacco business.
This article was written by Dividend Mantra. If you enjoyed this article, please consider subscribing to my feed.
4 days ago
