Philip Morris raises quarterly dividend by 2.4% to $1.30 a share

Philip Morris International Inc.
PM,
-0.08%
said Wednesday its board has increased its quarterly dividend by 2.4% to $1.30 a share from $1.27 previously. The tobacco company said the new dividend will be payable Oct. 12 to shareholders of record as of Sept. 27. The stock has fallen 6.7% in the year to date, while the S&P 500
SPX,
-0.57%
has gained 16.2%.