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Philip Morris International Spin-off (Completed)
Investor Information FAQs
Capital Structure, Dividends and Debt
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Q:
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Will Altria continue to pay the same dividend as before the Spin-off? |
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A:
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On January 30, 2008, the Board of Directors of Altria reaffirmed its intention to adjust Altria's dividend immediately following the distribution of PMI shares so that Altria shareholders who retain their PMI shares will receive, in the aggregate, the same annual cash dividend rate of $3.00 per share that existed before the Spin-off. On August 28, 2008, the Altria Board of Directors voted to increase the company's regular quarterly dividend. The new quarterly dividend of $0.32 per common share is up 10.3% from the previous rate of $0.29 per common share, and represents an annualized rate of $1.28 per common share. The quarterly dividend is payable on October 10, 2008 to stockholders of record as of September 15, 2008. The ex-dividend date is September 11, 2008. Decisions regarding future cash dividends will be made independently by the Altria Board of Directors. 
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Q:
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Will Altria report PMI as a discontinued operation in its financial results for the current year? |
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A:
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Yes, PMI will be reported as a discontinued operation on Altria's 2008 consolidated financial statements.
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Q:
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I currently participate in the Altria Dividend Reinvestment Plan. Will I automatically be enrolled in the PMI Dividend Reinvestment Plan? |
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A:
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Yes. If you elected to have your Altria cash dividends applied toward the purchase of additional Altria shares, the PMI shares you received in the Spin-off will be automatically enrolled in the PMI Direct Stock Purchase and Dividend Reinvestment Plan sponsored by Computershare Trust Company (PMI's transfer agent and registrar), unless you notify Computershare that you do not want to reinvest any PMI cash dividends in additional PMI shares.
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Q:
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Will Altria have a share repurchase program after the Spin-off? |
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A:
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The Altria Board of Directors approved the following share repurchase program:
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For Altria, a new $7.5 billion two-year share repurchase program was authorized and is expected to begin in April, after completion of the Spin-off.
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Indices
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DJIA
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11,220.96
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NASDAQ
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2,255.88
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S&P 500
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1,242.31
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Glossary
Glossary terms are shown in colored links.
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