Philip Morris International Inc. Increases Dividend by 2% to an Annualized Rate of $4.08 per Share; Adopts Proxy Access Bylaw
The new quarterly dividend of
The company also announces that the Board of Directors has amended the company’s bylaws to enable eligible shareholders, who have owned three or more percent of the company’s shares for at least three years, to nominate and include in the company’s proxy statement director candidates to occupy up to 20% of the available Board seats. The amended bylaws will be made available promptly on the company’s website.
Louis C. Camilleri, Chairman of the Board, said: “The Board decided to take this proactive step to grant proxy access to eligible long-term shareholders as part of its commitment to strong corporate governance practices. We will continue to maintain a diverse and dynamic Board of the highest caliber that can best perpetuate the success of our business and represent the long-term interests of our shareholders through the exercise of sound business judgment.”
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