Philip Morris International (PMI) Announces New Three-Year Share Repurchase Program of $18 Billion and Declares Regular Quarterly Dividend of $0.77 Per Share
The Board of Directors of Philip Morris International Inc. (NYSE: PM) today announced a new three-year share repurchase program of $18 billion. It is anticipated that the new program will be initiated August 1, 2012, following completion of the existing three-year program of $12 billion which began in May 2010 and which will conclude ahead of schedule. As previously announced, PMI has a share repurchase target for 2012 of $6.0 billion.
The Board of Directors of Philip Morris International Inc. today also declared a regular quarterly dividend of $0.77 per common share, payable on July 12, 2012, to stockholders of record as of June 27, 2012. The ex-dividend date is June 25, 2012.
“Since our spin-off from Altria Group, Inc. in March 2008, we have returned, on a cumulative basis, nearly $40 billion to our shareholders through dividends and share repurchases,” said Louis C. Camilleri, Chairman of the Board and Chief Executive Officer.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.