Philip Morris International (PM) Declares $1.27 Dividend

Philip Morris International said on March 9, 2023 that its board of directors declared a regular quarterly dividend of $1.27 per share ($5.08 annualized). Previously, the company paid $1.27 per share.

Shares must be purchased before the ex-div date of March 22, 2023 to qualify for the dividend. Shareholders of record as of March 23, 2023 will receive the payment on April 11, 2023.

At the current share price of $98.96 / share, the stock's dividend yield is 5.13%. Looking back five years and taking a sample every week, the average dividend yield has been 5.50%, the lowest has been 3.99%, and the highest has been 7.80%. The standard deviation of yields is 0.57 (n=236).

The current dividend yield is 0.64 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.87. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 15.04% Upside

As of March 10, 2023, the average one-year price target for Philip Morris International is $113.84. The forecasts range from a low of $90.90 to a high of $136.50. The average price target represents an increase of 15.04% from its latest reported closing price of $98.96.

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The projected annual revenue for Philip Morris International is $32,284MM, an increase of 1.64%. The projected annual non-GAAP EPS is $5.78.

What is the Fund Sentiment?

There are 3159 funds or institutions reporting positions in Philip Morris International. This is an increase of 102 owner(s) or 3.34% in the last quarter. Average portfolio weight of all funds dedicated to PM is 0.54%, a decrease of 2.98%. Total shares owned by institutions increased in the last three months by 0.42% to 1,474,277K shares. The put/call ratio of PM is 1.20, indicating a bearish outlook.

What are Large Shareholders Doing?

Capital International Investors holds 100,605K shares representing 6.49% ownership of the company. In it's prior filing, the firm reported owning 82,685K shares, representing an increase of 17.81%. The firm increased its portfolio allocation in PM by 36.48% over the last quarter.

Capital World Investors holds 99,684K shares representing 6.43% ownership of the company. In it's prior filing, the firm reported owning 84,894K shares, representing an increase of 14.84%. The firm increased its portfolio allocation in PM by 35.93% over the last quarter.

Capital Research Global Investors holds 54,957K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 63,077K shares, representing a decrease of 14.78%. The firm decreased its portfolio allocation in PM by 2.28% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 47,124K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 46,239K shares, representing an increase of 1.88%. The firm increased its portfolio allocation in PM by 14.75% over the last quarter.

ABALX - AMERICAN BALANCED FUND holds 40,650K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 39,973K shares, representing an increase of 1.66%. The firm increased its portfolio allocation in PM by 16.15% over the last quarter.

Philip Morris International Background Information
(This description is provided by the company.)

Philip Morris International is a leading international tobacco company, with a diverse workforce of around 73,500 people who hail from every corner of the globe. Philip Morris International is committed to being a great employer. We strive to be environmentally and socially responsible. We are dedicated to fighting the illegal cigarette trade. We proudly support the communities where we source tobacco and where our employees live and work. Philip Morris International is dedicated to doing something very dramatic—we want to replace cigarettes with smoke-free products as fast as possible. That’s why Philip Morris International has more than 430 scientists, engineers, and technicians developing less-harmful alternatives to cigarettes at our two research facilities in Switzerland and Singapore. It’s the biggest shift in our history. And it’s the right one for our consumers, our company, our shareholders, and society.

This story originally appeared on Fintel.