Philip Morris International Inc. PM, -0.61% said Wednesday its board has increased its quarterly cash dividend to $1.25 a share from $1.20. The new dividend will be payable Oct. 14 to shareholders of record as of Sept. 29. Shares were slightly higher premarket, and have gained 23% in the year to date, while the S&P 500 SPX, -0.57% has gained 18%.
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