Key Highlights

  • Philip Morris International's $1.60 quarterly dividend, up 8.8% from $1.47, has an October 2, 2026 ex-dividend date and is payable October 26.
  • The new quarterly rate is an annualized $6.40 per share, and the company has increased its annual dividend every year since 2008.
  • Second-quarter net revenues rose 10.4% to $11.2 billion, with smoke-free products approximately 42% of net revenues.
  • Reported diluted EPS was $1.80, down 7.7%, after a non-cash impairment, while adjusted diluted EPS rose 15.2% to $2.20.

Overview

Philip Morris International Inc.'s (NYSE:PM) $1.60 quarterly dividend yields 3.30% and sits beside second-quarter reported diluted EPS of $1.80 and adjusted diluted EPS of $2.20. The September 18, 2026 increase of 8.8% from $1.47 sets the annualized rate at $6.40 per share. The company states a total increase of 248% since becoming a public company in 2008.

Dividend Program and Shareholder Returns

The Board increased the regular quarterly dividend by 8.8% to an annualized rate of $6.40 per share. The new quarterly dividend of $1.60, up from $1.47, is payable October 26, 2026 to shareholders of record as of October 2, which is also the ex-dividend date.

The company states that it has increased its annual dividend every year since becoming a public company in 2008, a compound annual growth rate of 7.2%. The prior increase, announced in September 2025, was 8.9% from $1.35 to $1.47. The $1.47 dividend declared in March 2026 was payable April 13 to shareholders of record as of March 19.

About the Company

Philip Morris International is a leading international consumer goods company whose portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, nicotine pouch and e-vapor products. Its smoke-free products are available in 109 markets.

Financial Performance Behind the Payout

Second-quarter net revenues rose 10.4%, or 7.6% organically, to $11,192 million, passing $11 billion for the first time. Smoke-free net revenues rose 11.7% (9.7% organically), and combustibles net revenues rose 9.5% (6.1% organically). International smoke-free net revenues were $3,877 million, and international combustibles were $6,459 million.

Total shipments rose 2.5%, driven by a 7.5% increase in smoke-free shipments. Reported diluted EPS was $1.80 versus $1.95. Adjusted diluted EPS, a non-GAAP measure, was $2.20, up 15.2% or 13.6% excluding a 3 cent favorable currency impact.

A Non-Cash Impairment Between Reported and Adjusted EPS

The company said reported diluted EPS was unfavorably impacted by the non-cash impairment of the RBH equity investment, which was $511 million. Adjusted diluted EPS excludes it. The company also said the 3 cent favorable currency impact in adjusted EPS was above prior expectations primarily because of transactional effects.

Outlook

In its July 22 release, PMI updated its full-year 2026 adjusted diluted EPS forecast for currency only, representing a projected increase of 7.5% to 9.5% versus $7.54 in 2025. Smoke-free shipment growth, the smoke-free share of net revenues and the RBH impairment are the measures the company reports alongside that forecast.