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Philip Morris International (PMI) announces a new three-year stock repurchase program of up to $ 7 billion, with target expenditures of $ 5 billion to $ 7 billion; Declares the regular quarterly dividend of $ 1.20 per share

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NEW YORK–(WIRE BUSINESS) – Regulator

Board of Directors of Philip Morris International Inc. (NYSE: PM) today authorized a new $ 7 billion stock repurchase program, with target spending of $ 5 billion to $ 7 billion over a three-year period that is expected to begin after companies second call earnings quarter 2021.

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

Since our spin-off in March 2008, we have returned, on a cumulative basis, about $ 115 billion to our shareholders through dividends and stock purchases, said Jacek Olczak, Chief Executive Officer.

Our announcements today are further evidence of our unwavering commitment to generously rewarding our shareholders as we grow into a smoke-free company.

For more details on stocks, dividends and other information, Click here.

Philip Morris International: Giving a smoke-free future

Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products for the benefit of adults who would otherwise continue to smoke, society , the company, its shareholders and other stakeholders. PMI is a leading international tobacco company engaged in the production and sale of cigarettes, as well as smokeless products, electronics and related accessories, and other nicotine-containing products in markets outside the U.S. In addition, PMI sends versions of its IQOS Platform 1 consumables and consumables for Altria Group, Inc. for sale under license in the US, where these products have received marketing authorizations from the US Food and Drug Administration (FDA) under the Tobacco Product Application Path (PMTA) The FDA has also authorized the marketing of a version of IQOS and its consumables as a Modified Tobacco Product (MRTP), revealing that an exposure modification order for these products is appropriate to promote public health. PMI is building a future in a new category of non-smoking products that, although they have no risks, are a much better choice than continuing to smoke. Through multidisciplinary skills in product development, state-of-the-art facilities and scientific certification, PMI aims to ensure that its smoke-free products meet increased consumer preferences and strict regulatory requirements. The PMI smoke-free product portfolio includes non-combustible, non-nicotine vapor products. As of March 31, 2021, PMI tobacco-free products are available for sale in 66 markets in major cities or across the country, and PMI estimates that approximately 14.0 million adults worldwide have already passed on IQOS and stopped smoking. For more information, please visit www.pmi.com AND www.pmiscience.com.

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