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PM Dividend Calculator: Project Philip Morris International Dividend Income

Philip Morris International sells tobacco and smoke-free products outside the United States and pays one of the highest dividend yields among large consumer-staples companies. Since its 2008 spin-off, the company has raised its dividend every year.

That yield reflects a business the market treats as declining: cigarette volumes shrink over time, and regulators keep tightening rules. The investment case rests on pricing power, smoke-free products, and cash flow that funds generous payouts.

Use this calculator to project PM income with or without reinvestment and to test how sensitive a monthly income goal is to the payout rate.

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Data as of September 27, 2026 · Sources: Yahoo Finance and company filings.

Share price
$190.48
Dividend yield (TTM)
3.36%
TTM dividend / share
$5.88
Distribution frequency
Quarterly
Payout ratio
81%
Market cap
$296.9B
How much PM do you need for your income goal?

Capital required at the current 3.36% yield, before taxes and before accounting for future dividend growth or reinvestment.

Monthly incomeAnnual incomeCapital requiredApprox. shares
$500/month$6.0K$178.6K938
$1,000/month$12.0K$357.1K1,875
$2,000/month$24.0K$714.3K3,750
$3,000/month$36.0K$1.1M5,625
$5,000/month$60.0K$1.8M9,375
$10,000/month$120.0K$3.6M18,750

Estimates only. Yield, share price, and distributions change over time. Use the full calculator to model monthly contributions, dividend growth, taxes, and reinvestment.

How long to reach your PM income goal?

Years until projected dividend income first reaches each target, starting from zero with every distribution reinvested. Assumes today's 3.36% yield and dividend growth consistent with the fund's record; taxes and withdrawals are excluded.

Monthly contribution$500/month$1,000/month$2,000/month$5,000/month
$250/month16 yr20 yr24 yr30 yr
$500/month12 yr16 yr20 yr25 yr
$1,000/month9 yr12 yr16 yr21 yr

Projections assume a constant yield, dividend growth consistent with the holding's recent record, no price changes beyond its recent trend, and full reinvestment. Actual results will differ. Dividend income is shown before taxes.

Who PM is for
  • Income investors who explicitly accept high-yield sector risk
  • Portfolios that use tobacco as a yield sleeve rather than a core
  • Taxable accounts, since distributions are generally qualified
  • Investors comfortable monitoring regulatory and volume trends
Trade-offs to understand
  • Declining cigarette volumes and tightening regulation are structural headwinds
  • Very high payout ratio leaves little room for earnings surprises
  • Currency movements outside the U.S. affect reported results

About Philip Morris International Inc

Philip Morris International Inc. operates as a tobacco company. The company offers cigarettes and smoke-free products, including heat-not-burn, e-vapor, and oral nicotine products under the IQOS, VEEV, and ZYN brands; and consumer accessories, such as lighters and matches. It also offers wellness products. The company was incorporated in 1987 and is headquartered in Stamford, Connecticut.

PM key facts
MetricValue
CompanyPhilip Morris International Inc
SectorConsumer Defensive
IndustryTobacco
TickerPM
Share price$190.48
Dividend yield (TTM)3.36%
Annual dividend / share$6.40
TTM distributions / share$5.88
Payout ratio81%
Distribution frequencyQuarterly
Market cap$296.9B

Figures are the latest available and change with price and company reporting. The payout ratio is omitted when reported earnings distort it above 120% — common for REITs and companies with large one-off charges. Historical performance is not a forecast.

PM dividend history and payout schedule
TTM / share
$5.88
Yield (TTM)
3.36%
Annual growth
-1.6%
Pays in
March, June, October, December
Payment datePer share
June 25, 2026$1.47
March 19, 2026$1.47
December 26, 2025$1.47
October 3, 2025$1.47
June 27, 2025$1.35
March 20, 2025$1.35
December 26, 2024$1.35
September 26, 2024$1.35

Annual growth compares the latest twelve months of distributions with the twelve months ending four years earlier and is not a forecast. Past distributions can be reduced or suspended.

PM frequently asked questions

PM yields about 3.36% per year on a trailing basis at $190.48 per share — a high payout rate that reflects the market's caution about declining tobacco volumes.

At a 3.36% yield, $12,000 per year requires roughly $357.1K, or about 1,875 shares at $190.48. The high yield means less capital per dollar of income, but the income carries sector risk.

Philip Morris distributes quarterly, recently in March, June, October, December. The trailing twelve-month distribution totals about $5.88 per share, and most brokers support automatic reinvestment.

Philip Morris has raised its dividend every year since its 2008 spin-off, funded by cigarette pricing power and growing smoke-free revenue. Volumes shrink annually and regulators remain active, so the payout depends on continued price increases and new product adoption.

Comparing the latest twelve months of distributions with the twelve months ending four years earlier, PM's per-share payout has grown at roughly -1.6% per year. Increases are decided annually and are not guaranteed.

Philip Morris distributions are generally qualified dividends, taxed at long-term capital gains rates in taxable accounts. Holding PM in an IRA or Roth removes the annual tax drag. Confirm your own situation with a tax professional.

Investing $500 a month with all distributions reinvested, PM's projected dividend income reaches $1,000 a month in about 16 years. By then you would have contributed roughly $96.0K and the projected portfolio value would be about $569.9K. This assumes today's 3.36% yield and the growth assumptions shown in the calculator, with no taxes or withdrawals — projections, not guarantees.
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Disclaimer: This page is for educational purposes only and is not financial, investment, or tax advice. Data is sourced from Yahoo Finance and company filings and may be delayed or contain errors. Dividends are not guaranteed and can be reduced or suspended. Past performance is not indicative of future results. Always consult a qualified advisor before making investment decisions.