RTTNews | Feb 10, 2021 07:38AM EST

07:37 Wednesday, February 10, 2021 (RTTNews.com) - Ahead of its virtual 2021 Investor Day later on Wednesday, Philip Morris International Inc. (PM) reaffirmed its earnings guidance for the full-year 2021 in the range of $5.90 to $6.00 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.00 per share for the year. Analysts' estimates typically exclude special items.

The company also provided long-term targets for the fiscal years 2021 to 2023, including net revenue and adjusted earnings compound annual organic growth of more than 5% and 9%, respectively, and 2023 heated tobacco unit shipment volume of 140 to 160 billion units.

The company also intends to begin a three-year share repurchase program of $5 billion to $7 billion in the second half of 2021, and will maintain its progressive dividend policy while targeting a long-term dividend payout ratio of around 75% of adjusted earnings, both subject to the discretion of the Board of Directors.

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