Philip Morris ($PM) announced its next dividend of $1.30 per share, a 2.4% increase over the company's previous payout of $1.27.
DivGro's annual dividend income will increase by $14.40 as a result.
I own 120 shares of PM at an average cost basis of $85.89 per share. Following this increase, my yield on cost is 6.05%. In comparison, PM's forward yield is 5.56% at $146.41 per share.
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