Weekly Tobacco Notes: Philip Morris Gives Dividend And Gets Board Members
Philip Morris International Inc. (NYSE:PM) made two major announcements last week. The first was regarding dividends and the second related to expanding its Board of Directors. Last Week, we also wrote about Philip Morris’ potential in the Indonesian market. (See Philip Morris Likely To Further Gains In Indonesia)
See Our Complete Analysis For Philip Morris International
Quarterly Dividend Increase
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Philip Morris announced a dividend of $1 per share to be paid this quarter on October 10. All shareholders on record as of September 25 will benefit from this allotment. [1] This is an increase of approximately 6.4% from the last quarter, when the dividend announced was $0.94. Please see below graph for a history of Philip Morris’ dividends. [2]
New Board Members To Facilitate Low-Risk Category Growth
Philip Morris announced the induction of Jun Makihara, Frederik Paulsen and Werner Geissler into their Board of Directors. Jun Makihara is an investment banker, formerly with Goldman Sachs (NYSE:GS). Frederik Paulsen is a second generation pharma industry entrepreneur who heads Switzerland headquartered Ferring Pharmaceuticals. Werner Geissler is vice chairman at Procter and Gamble (NYSE: PG), with extensive experience in the FMCG industry. The combination of skill sets of these new inductees to the board lies in the financing and sales of healthier alternatives to tobacco cigarettes. Hence they can be expected to contribute to Philip Morris endeavors in the e-cigarette and the heat-not-burn cigarette category.((ref:2))
We have earlier published an article on the importance of tobacco alternatives to the big tobacco companies, especially Altria Group (NYSE: MO). (See Altria Set To Pose A Stiff Challenge and Altria Making Fast Moves In The Burgeoning E-Cigarette Market).
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