Global tobacco giant Philip Morris International (NYSE:PM) announced this morning its second-quarter dividend of $0.85 per share, the same rate it's paid for the past three quarters after raising the payout 10% from $0.77 per share.

The board of directors said the quarterly dividend is payable on July 12 to holders of record at the close of business on June 27. The regular dividend payment equates to a $3.40-per-share annual dividend, yielding 3.7% based on the closing price of Philip Morris International's stock on June 11.

PM Dividend Chart

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Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Philip Morris International. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.