Investors love tobacco stocks for their great dividends, but many have a hard time deciding which one is the best place for their money today. 

Two of the best operators, Altria (NYSE: MO) and Philip Morris (NYSE: PM) are cut from the same cloth, but their futures look very different. 

Altria has a better dividend and is cheaper compared to the cash flow you receive, but Philip Morris has the potential to top into faster population growth in emerging markets.

Given that, Fool analyst Austin Smith believes Philip Morris is worth paying the slight premium for and that it is a better dividend stock for your money today.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.