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Philip Morris raises quarterly dividend by 6.5%

Tobacco producer Philip Morris International Inc. raised its quarterly dividend by 6.5% to $1.14 per share from $1.07 per share, reflecting the board's confidence in the growth potential of the company's smoke-free products.

The quarterly dividend is payable July 11 to shareholders of record as of June 22.

On an annual basis, the new dividend is $4.56 per share.