The Board of Directors of Philip Morris International Inc. (NYSE / Euronext Paris: 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.
“Our announcements today are a further testament to our steadfast commitment to generously reward our shareholders over the long-term.”
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Philip Morris International Inc
Philip Morris International Inc. (PMI) is the leading international tobacco company, with seven of the world’s top 15 international brands, including
, the number one cigarette brand worldwide. PMI’s products are sold in approximately 180 countries. In 2011, the company held an estimated 16.0% share of the total international cigarette market outside of the U.S., or 28.1% excluding the People’s Republic of China and the U.S. For more information, see