Philip Morris International (PMI) Announces New Three-Year Share Repurchase Program of $18 Billion and Declares Regular Quarterly Dividend of $0.77 Per Share
Published on Wednesday, 13 June 2012 08:51 Written by TradersHuddle StaffNEW YORK-( Business Wire )-
The Board of Directors of Philip Morris International Inc. (NYSE / Euronext Paris: PM) today announced a new three-year share repurchase program of $18 billion. It is anticipated that the new program will be initiated August 1, 2012, following completion of the existing three-year program of $12 billion which began in May 2010 and which will conclude ahead of schedule. As previously announced, PMI has a share repurchase target for 2012 of $6.0 billion.
The Board of Directors of Philip Morris International Inc. today also declared a regular quarterly dividend of $0.77 per common share, payable on July 12, 2012, to stockholders of record as of June 27, 2012. The ex-dividend date is June 25, 2012.
“Since our spin-off from Altria Group, Inc. in March 2008, we have returned, on a cumulative basis, nearly $40 billion to our shareholders through dividends and share repurchases,” said Louis C. Camilleri, Chairman of the Board and Chief Executive Officer.
“Our announcements today are a further testament to our steadfast commitment to generously reward our shareholders over the long-term.”
For more details on stock, dividends and other information, see www.pmi.com/investors.
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international tobacco company, with seven of the world’s top 15 international brands, including Marlboro, the number one cigarette brand worldwide. PMI’s products are sold in approximately 180 countries. In 2011, the company held an estimated 16.0% share of the total international cigarette market outside of the U.S., or 28.1% excluding the People’s Republic of China and the U.S. For more information, see www.pmi.com.
Philip Morris International Inc.Investor Relations:New York: +1 (917) 663 2233Lausanne: +41 (0)58 242 4666orMedia:Lausanne: +41 (0)58 242 4500
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