Philip Morris reports increased dividend, also names Michael Miles new chairman. (Philip Morris Companies Inc. ) (Brief Article)

Modern Brewery Age | September 9, 1991 | Copyright

The Board of Directors of Philip Morris Cos., Inc., last week declared a quarterly dividend on the common stock of $.525 a share payable October 10 to stockholders of record on September 16.

The dividend is an increase of over 22 percent over the previous quarter's $.43 a share. The increase marks the 27th consecutive increase in the companies quarterly dividend payments over the last 24 years. Over the past 10 years, dividends have grown at an annual rate of 24 percent.

The Philip Morris Board also elected Michael Miles to succeed Hamish Maxwell, ...

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