Philip Morris Authorizes New Share Buyback Of Up To $7 Bln; Declares Dividend - Quick Facts

(RTTNews) - The Board of Directors of Philip Morris International Inc. (PM) on Friday authorized a new share repurchase program of up to $7 billion, with target spending of $5 billion to $7 billion over a three-year period.

The Board of Directors also declared a regular quarterly dividend of $1.20 per common share, payable on July 12, 2021, to shareholders of record as of June 25, 2021. The ex-dividend date is June 24, 2021.

"Our announcements today are further testament to our steadfast commitment to generously reward our shareholders as we transform into a smoke-free company," said Jacek Olczak, Chief Executive Officer.