By Matt Grossman

 

Philip Morris International Inc.'s board of directors has authorized a share-repurchase program of up to $7 billion, the company said Friday.

The program targets spending of between $5 billion and $7 billion over three years, the New York City-based tobacco company said.

The company also declared a regular quarterly dividend of $1.20 a share to be paid on July 12.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

June 11, 2021 09:25 ET (13:25 GMT)

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