Ex-Dividend Reminder: Philip Morris International, Academy Sports & Outdoors and Best Buy

Looking at the universe of stocks we cover at Dividend Channel, on 3/22/23, Philip Morris International Inc (Symbol: PM), Academy Sports & Outdoors Inc (Symbol: ASO), and Best Buy Inc (Symbol: BBY) will all trade ex-dividend for their respective upcoming dividends. Philip Morris International Inc will pay its quarterly dividend of $1.27 on 4/11/23, Academy Sports & Outdoors Inc will pay its quarterly dividend of $0.09 on 4/13/23, and Best Buy Inc will pay its quarterly dividend of $0.92 on 4/13/23. As a percentage of PM's recent stock price of $95.99, this dividend works out to approximately 1.32%, so look for shares of Philip Morris International Inc to trade 1.32% lower — all else being equal — when PM shares open for trading on 3/22/23. Similarly, investors should look for ASO to open 0.14% lower in price and for BBY to open 1.19% lower, all else being equal.

When an S&P 1500 component reaches 20 years of dividend increases, it becomes a contender to join the elite "Dividend Aristocrats" index. Philip Morris International Inc (Symbol: PM) is a "future dividend aristocrats contender," with 14+ years of increases.

Below are dividend history charts for PM, ASO, and BBY, showing historical dividends prior to the most recent ones declared.

Philip Morris International Inc (Symbol: PM):

Academy Sports & Outdoors Inc (Symbol: ASO):

Best Buy Inc (Symbol: BBY):

In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 5.29% for Philip Morris International Inc, 0.56% for Academy Sports & Outdoors Inc, and 4.74% for Best Buy Inc.

In Monday trading, Philip Morris International Inc shares are currently up about 1.3%, Academy Sports & Outdoors Inc shares are up about 1.9%, and Best Buy Inc shares are up about 1.2% on the day.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.