How Philip Morris International (PM) Fits into a Short-Term Dividend Capture Strategy

Core Insights - Philip Morris International Inc. (PM) is recognized as one of the Best High Yield Stocks to buy in October [1] - The company is undergoing a significant business transformation towards smoke-free products, which now account for 39% of its projected 2024 revenue [2] - The recent acquisition of Swedish Match strengthens PM's position in the growing nicotine segment, while a lawsuit dismissal regarding ZYN pricing alleviates previous concerns [2] Financial Performance - PM's heat-not-burn product, IQOS, generated over $3 billion in net revenue and holds a 76% share of the global heat-not-burn market [3] - In Europe, adjusted IQOS sales volumes increased by 9.1%, and in Japan, they grew by 7.8%, raising its market share to 31.7% [3] Dividend Information - On September 19, PM announced an 8.9% increase in its quarterly dividend to $1.47 per share, extending its dividend growth streak to 16 years [4] - The current dividend yield stands at 3.57%, with the stock going ex-dividend on October 3 [4]