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Why Is Philip Morris Stock Gaining Friday? - Philip Morris Intl (NYSE:PM)

Philip Morris International Inc PM shares edged higher on Friday premarket after the tobacco giant announced a fresh boost to shareholder returns.The company's board approved an 8.9% increase in its regular quarterly dividend, lifting the annualized payout to 5.88pershare.Investorswillreceivethenewquarterlydividendof5.88 per share.Investors will receive the new quarterly dividend of 1.47 on October 20, if they are on record by October 3, with the ex-dividend date also set for October 3.Also Read: FDA To Expedite Nicotine Pouch Reviews In Pilot Program Under Trum ...