Benzinga | Sep 15, 2021 02:31PM EDT

Philip Morris Rewards Shareholders With Dividend Hike

* Philip Morris International Inc (NYSE:PM) has increased the company's regular quarterly dividend by 4.2% to an annualized rate of $5.00 per share.

* The new quarterly dividend of $1.25 per share, up from $1.20 per share, is payable on October 14, 2021, to shareholders of record as of September 29, 2021.

* Price Action: PM shares are trading higher by 1.83% at $103.75 on the last check Wednesday.