Philip Morris lifts quarterly dividend to $1.60
Philip Morris International’s board approved an 8.8% increase in the regular quarterly dividend to $1.60 per share, continuing a dividend growth streak that began in 2008.
Rhea-AI Filing Summary
Philip Morris International Inc. (PM) announced that its Board of Directors increased the regular quarterly dividend to $1.60 per common share, up from $1.47, equivalent to an annualized rate of $6.40 per share. The dividend is payable on October 26, 2026 to shareholders of record as of October 2, 2026, with the ex-dividend date also on October 2, 2026.
The company states it has raised its annual dividend every year since 2008, a total increase of 248%, representing a compound annual growth rate of 7.2%. Philip Morris International also highlights the growth of its smoke-free portfolio, noting that smoke-free products accounted for approximately 42% of second-quarter 2026 net revenues and were used by over 43 million legal-age consumers as of December 31, 2025.
Positive
- Quarterly dividend raised 8.8% to $1.60 per share, bringing the annualized dividend to $6.40 per share and extending a dividend growth streak that has run every year since 2008.
- Smoke-free products generated 42% of second-quarter 2026 net revenues, indicating substantial revenue contribution from the company’s reduced-risk product portfolio.
- PMI reports its annual dividend has increased by 248% since 2008, reflecting a long record of returning cash to shareholders through rising payouts.
Negative
- None.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
New quarterly dividend: $1.60 per share
Annualized dividend rate: $6.40 per share
Dividend increase percentage: 8.8%
+5 more
8 metrics
New quarterly dividend
$1.60 per share
Regular quarterly dividend declared by the board, up from $1.47
Annualized dividend rate
$6.40 per share
Annualized rate implied by the new $1.60 quarterly dividend
Dividend increase percentage
8.8%
Increase in PMI’s regular quarterly dividend compared with the prior rate
Long-term dividend growth
248% total increase
Cumulative increase in annual dividend since 2008
Dividend CAGR
7.2%
Compound annual growth rate of PMI’s annual dividend since 2008
Smoke-free revenue share
42%
Approximate share of total net revenues from smoke-free products in Q2 2026
Investment in smoke-free products
$16 billion
Cumulative investment since 2008 in developing and commercializing smoke-free products
Smoke-free consumers
Over 43 million
Estimated legal-age consumers using PMI’s smoke-free products as of December 31, 2025
Key Terms
ex-dividend date, compound annual growth rate, smoke-free products, heat-not-burn, +1 more
5 terms
ex-dividend date financial
"The ex-dividend date is October 2, 2026."
The ex-dividend date is the date when a stock starts trading without the value of its next dividend payment included. If you buy the stock on or after this date, you won't receive that upcoming dividend; only those who owned the stock before this date are entitled to it. It matters to investors because it determines who is eligible to receive the dividend and can influence the stock’s price around that time.
compound annual growth rate financial
"representing a total increase of 248%, or a compound annual growth rate of 7.2%."
The compound annual growth rate (CAGR) shows how much an investment or value has grown, on average, each year over a specific period. It considers the effect of growth that compounds or builds upon itself, similar to how interest accumulates in a savings account. Investors use CAGR to compare different investments’ long-term performance and to understand how steady or consistent their growth has been over time.
smoke-free products technical
"The company’s current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, nicotine pouch and e-vapor products."
heat-not-burn technical
"including heat-not-burn, nicotine pouch and e-vapor products."
A heat-not-burn product is a consumer device that warms processed tobacco or nicotine material to generate an inhalable aerosol without burning it, similar to how a hot plate steams food instead of frying it. Investors watch these products because they can change demand for traditional cigarettes, face distinct regulatory and legal risks, and influence long-term revenue and public perception in tobacco and nicotine markets.
Modified Risk Tobacco Product regulatory
"also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA in their respective categories."
A modified risk tobacco product is a tobacco or nicotine product that is marketed with claims it reduces health risks or exposure to harmful substances compared with other tobacco products; such claims are typically subject to regulatory review and approval. For investors, this matters because approved modified-risk status can change consumer demand, legal exposure, labeling requirements and market access—similar to how a government-backed “low-risk” label can alter a product’s sales and liability profile.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What dividend did Philip Morris International (PM) just declare?
Philip Morris International’s board declared a regular quarterly dividend of $1.60 per share, up from $1.47. This new rate represents an 8.8% increase and an annualized dividend of $6.40 per share.
When is the new PM dividend payable and what are the key dates?
The new $1.60 per share dividend is payable on October 26, 2026 to shareholders of record as of October 2, 2026. The ex-dividend date is October 2, 2026.
By how much did Philip Morris International (PM) increase its dividend?
The company increased its regular quarterly dividend by 8.8%, from $1.47 to $1.60 per share, resulting in an annualized dividend of $6.40 per share.
How long has PM been increasing its annual dividend?
Philip Morris International states it has increased its annual dividend every year since 2008, representing a total increase of 248% and a 7.2% compound annual growth rate over that period.
What portion of PM’s revenue comes from smoke-free products?
The company reports that smoke-free products accounted for approximately 42% of total net revenues in the second quarter of 2026, reflecting the growing importance of its smoke-free portfolio.
How many consumers use Philip Morris International’s smoke-free products?
As of December 31, 2025, Philip Morris International estimates that its smoke-free products were used by over 43 million legal-age consumers in more than 105 markets.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 18, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||||||||
Registrant's telephone number, including area code: (203 ) 905-2410
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |||||
Emerging growth company | |||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | ||||
| Item 7.01. | Regulation FD Disclosure. | ||||
On September 18, 2026, Philip Morris International Inc. issued a press release announcing that its Board of Directors declared a regular quarterly dividend of $1.60 per common share, which press release is attached as Exhibit 99.1 to this Item 7.01 of this Current Report on Form 8-K and incorporated by reference herein.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report on Form 8-K shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such filing or document.
| Item 9.01. | Financial Statements and Exhibits. | ||||
| (d) | Exhibits. | ||||
| 99.1 | Philip Morris International Inc. Press Release, dated September 18, 2026 (furnished pursuant to Item 7.01). | ||||
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PHILIP MORRIS INTERNATIONAL INC. | ||||||||
| By: | /s/ DARLENE QUASHIE HENRY | |||||||
| Name: | Darlene Quashie Henry | |||||||
| Title: | Vice President, Associate General Counsel & Corporate Secretary | |||||||
Date: September 18, 2026
| Exhibit 99.1 | ||||||||
| PRESS RELEASE |  | |||||||||||||
| Investor Relations: | Media: Corey Henry | |||||||||||||
| Email: InvestorRelations@pmi.com | Email: Corey.Henry@pmi.com | |||||||||||||
| Stamford, CT: +1 (203) 905 2413 | Stamford, CT: +1 (203) 905 2410 | |||||||||||||
Lausanne: +41 (0)58 242 4500 | ||||||||||||||
Philip Morris International Increases Dividend by 8.8%
to Annualized Rate of $6.40 per Share
to Annualized Rate of $6.40 per Share
STAMFORD, CT, September 18, 2026 – The Board of Directors of Philip Morris International Inc. (PMI) (NYSE: PM) has increased the company’s regular quarterly dividend by 8.8% to an annualized rate of $6.40 per share.
The new quarterly dividend of $1.60 per share, up from $1.47 per share, is payable on October 26, 2026, to shareholders of record as of October 2, 2026. The ex-dividend date is October 2, 2026.
PMI has increased its annual dividend every year since becoming a public company in 2008, representing a total increase of 248%, or a compound annual growth rate of 7.2%.
For additional dividend information, see www.pmi.com/dividend.
Philip Morris International: A Global Smoke-Free Champion
Philip Morris International is a leading international consumer goods company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, nicotine pouch and e-vapor products. Our smoke-free products are available for sale in over 105 markets, and as of December 31, 2025, PMI estimates they were used by over 43 million legal-age consumers around the world, many of whom have moved away from cigarettes or significantly reduced their consumption. The smoke-free business accounted for approximately 42% of PMI’s second-quarter 2026 total net revenues. Since 2008, PMI has invested over $16 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for legal age adults who would otherwise smoke or use other nicotine-containing consumer products, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. Following a robust science-based review, the U.S. Food and Drug Administration has authorized the marketing of Swedish Match’s General snus, ZYN nicotine pouches and versions of PMI’s IQOS devices and consumables - the first-ever such authorizations in their respective categories. Versions of IQOS devices and consumables, General snus and 20 ZYN nicotine pouch variants also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA in their respective categories. With a strong foundation and significant expertise in life sciences, PMI has a long-term ambition to expand into wellness areas. References to “PMI”, “we”, “our” and “us” mean Philip Morris International Inc., and its subsidiaries. For more information, please visit www.pmi.com and www.pmiscience.com.