Philip Morris International Raises Dividend by 8.9% to an Annualized $5.88 per Share

Key Points

• Increase: Quarterly dividend lifted from $1.35 to $1.47 (+8.9%), annualized $5.88.
• Key dates: Record date and ex-dividend date: October 3, 2025; payment date: October 20, 2025.
• Shareholder returns: Dividend raised every year since 2008; +219.6% cumulative increase; ~7.1% CAGR.
• Business mix: Smoke-free accounted for 41% of H1 2025 net revenues; user base >41 million.
• Investment & regulation: More than $14 billion invested in R&D and commercialization of smoke-free products since 2008; FDA marketing authorizations for versions of IQOS devices/consumables and for Swedish Match’s General snus and ZYN nicotine pouches; some products hold MRTP (modified-risk) orders.
• Strategy: Alongside smoke-free growth, PMI is exploring long-term opportunities in wellness and healthcare.

2Firsts, September 24, 2025 — PMI announced that its Board of Directors has approved an increase in the regular quarterly dividend to $1.47 per share from $1.35, resulting in an annualized dividend of $5.88. The dividend will be paid on October 20, 2025 to shareholders of record as of October 3, 2025; the ex-dividend date is also October 3, 2025.

PMI noted that it has increased its annual dividend every year since becoming a public company in 2008, representing a 219.6% cumulative increase and a compound annual growth rate of about 7.1%. Management said the company’s consistent shareholder returns go hand in hand with its transition toward a smoke-free future.

On the business mix, PMI’s portfolio includes both traditional cigarettes and smoke-free products (heat-not-burn, nicotine pouches and e-vapor). As of June 30, 2025, PMI estimates that over 41 million legal-age consumers use its smoke-free products, many of whom have quit or significantly reduced cigarette consumption. Smoke-free products contributed 41% of PMI’s total net revenues in the first half of 2025. Since 2008, PMI has invested $14+ billion in developing, scientifically substantiating and commercializing smoke-free products, and has built capabilities spanning toxicology, clinical and behavioral research, as well as post-market studies.

On the regulatory front, the U.S. FDA has authorized the marketing of Swedish Match’s General snus and ZYN nicotine pouches, and versions of PMI’s IQOS devices and consumables; some variants of IQOS and General have also received Modified Risk Tobacco Product (MRTP) orders. Leveraging its life-science foundation, PMI said it will continue exploring wellness and healthcare opportunities while advancing the goal of ultimately ending the sale of cigarettes.