Key Developments: Philip Morris International Inc (PM.N)

PM.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Philip Morris International Inc to acquire 20 pct interest in Russian Megapolis Group
Wednesday, 4 Dec 2013 07:00am EST 

Philip Morris International Inc (PMI):Says has signed an agreement to acquire a 20 percent equity interest in Megapolis Distribution BV, the holding company of CJSC TK Megapolis, PMI’s distributor in Russia.Says the purchase price of $750 million excludes an additional payment of up to $100 million which is contingent on Megapolis’s operational performance over the four fiscal years following the closing of the purchase.Says PMI expects the transaction to be completed by the end of 2013 without requiring regulatory approvals.Says the transaction is projected to be accretive to PMI’s earnings per share as of Q1 2014.Says Megapolis is a Russian consumer goods distributor focusing principally on tobacco and beverages.  Full Article

Philip Morris International Inc broadens FY 2013 EPS guidance
Wednesday, 20 Nov 2013 11:59am EST 

Philip Morris International Inc:Sees FY 2013 diluted EPS guidance range from $5.30 to $5.42, compared to $5.17 in 2012.  Full Article

Philip Morris International Inc Lowers FY 2013 EPS Guidance
Thursday, 17 Oct 2013 06:59am EDT 

Philip Morris International Inc revised fiscal 2013 guidance and expects diluted earnings per share (EPS) forecast to be in a range of $5.35 to $5.40, versus $5.17 in 2012. The forecast includes the unfavorable special tax item of $0.01 per share associated with the enactment of the American Taxpayer Relief Act of 2012 reported in the first quarter of 2013, an anticipated 2013 fourth-quarter charge, related to a previously announced organizational restructuring, of approximately $0.03 per share, and reflects a cautious outlook regarding certain markets. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $5.43 for fiscal 2013.  Full Article

Philip Morris International Inc Acquires 20% Stake In Philip Morris Mexico SA de CV From Grupo Carso SAB de CV; Reaches 100% Stake In Philip Morris Mexico SA de CV
Monday, 30 Sep 2013 04:01pm EDT 

Grupo Carso SAB de CV announced that it has completed the process of sale of the remaining 20% stake in Philip Morris Mexico SA de CV (PMM) to Philip Morris International Inc. (PMI). The price ascended to approximately USD 703 million. As a result PMI has acquires a 100% stake in PMM.  Full Article

Philip Morris International Inc Enters Into Agreement To Acquire 49% Interest In Arab Investors-TA (FZC)
Monday, 30 Sep 2013 08:20am EDT 

Philip Morris International Inc announced its entry into a definitive agreement to acquire 49% of the shares of United Arab Emirates-based Arab Investors-TA (FZC) for $625 million. Through its acquisition of 49% of the shares of AITA, PMI will secure an almost 25% economic interest in the Société des Tabacs Algéro-Emiratie, a joint venture which is 51% owned by AITA and 49% by the Algerian state-owned Société Nationale des Tabacs et Allumettes SpA. STAEM, with which PMI has had a partnership since 2005, manufactures and distributes under license PMI’s Marlboro and L&M brands, which together hold a share of the international trademarks sold in Algeria. This equity investment in AITA will provide PMI with enhanced earnings from Algeria and is projected to be accretive to PMI’s earnings per share as of 2014.  Full Article

Philip Morris International Inc Increases Quarterly Dividend by 10.6% to Annualized Rate of USD 3.76 Per Share
Wednesday, 11 Sep 2013 03:20am EDT 

Philip Morris International Inc announced that it has increased the Company’s regular quarterly dividend by 10.6%, to an annualized rate of USD 3.76 per share. The new quarterly dividend of USD 0.94 per share, up from USD 0.85 per share, is payable on October 11, 2013, to stockholders of record as of September 26, 2013. The ex-dividend date is September 24, 2013.  Full Article

Philip Morris International Inc Lowers FY 2013 EPS Guidance
Thursday, 18 Jul 2013 06:59am EDT 

Philip Morris International Inc revised fiscal 2013 earnings per share (EPS) guidance to a range of $5.43 to $5.53, compared to $5.17 in 2012. Excluding an unfavorable currency impact, at prevailing exchange rates, of approximately $0.31 for fiscal 2013, reported diluted earnings per share are projected to increase by approximately 10%-12% compared to adjusted diluted earnings per share $5.22 in 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $5.55 for fiscal 2013.  Full Article

Philip Morris International Inc Declares Regular Quarterly Dividend Of $0.85 Per Share
Wednesday, 12 Jun 2013 03:30am EDT 

Philip Morris International Inc. announced that it has declared a regular quarterly dividend of $0.85 per common share, payable on July 12, 2013, to shareholders of record as of June 27, 2013. The ex-dividend date is June 25, 2013.  Full Article

Philip Morris International Inc to Acquire Remaining 20% Interest in Its Mexican Subsidiary
Tuesday, 21 May 2013 09:00am EDT 

Philip Morris International Inc ("PMI") announced that Grupo Carso, S.A.B. de C. V. (“Grupo Carso”) will sell to PMI its 20% interest in Philip Morris Mexico, S.A. de C.V. (“PMM”), PMI’s Mexican tobacco business. The final purchase price, currently estimated to be approximately USD 700 million, will be determined by a pre-agreed formula. It is subject to a potential adjustment based on PMM’s actual performance over three years ending two fiscal years after the closing of the purchase. The transaction, as a result of which PMI will own 100% of PMM, is expected to be completed by September 30, 2013, subject to the approval of the Mexican antitrust authority, and is projected to be immediately marginally accretive to PMI’s earnings per share as of the fourth quarter of 2013.  Full Article

Philip Morris International Inc Lowers FY 2013 EPS Guidance
Thursday, 18 Apr 2013 06:59am EDT 

Philip Morris International Inc revised fiscal 2013 earnings per share (EPS) guidance to a range of $5.55 to $5.65, compared to $5.17 in 2012. Excluding an unfavorable currency impact, at prevailing exchange rates, of approximately $0.19 for fiscal 2013, reported diluted earnings per share are projected to increase by approximately 10%-12% compared to adjusted diluted earnings per share $5.22 in 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $5.72 for fiscal 2013.  Full Article

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Philip Morris ordered to defend fraud suit over U.S. military vendors

WASHINGTON - A U.S. appeals court on Tuesday revived a lawsuit against Philip Morris USA Inc that claims the tobacco company defrauded the federal government by failing to sell cigarettes to military vendors at the lowest price.

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