Tobacco Companies: Dividend Yield

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Methodology

Tobacco companies publicly traded in OECD countries. Regular dividend payments. Dividend payout based on the latest communicated policy. Yield close to or more than 5% based on the last close. Ex-dividend dates: in red if confirmed, in black if projected (based on the past ex-dividend dates).

Table 1. Dividend Yield

RankCompanyCountryCurrencyLast CloseDividendYield
1British American TobaccoUK£24.062.369.9%
2AltriaUSAUS$43.223.929.1%
3Imperial BrandsUK£17.701.478.4%
4VectorUSAUS$10.710.807.5%
5Scandinavian TobaccoDenmarkkr.123.88.46.8%
6UniversalUSAUS$51.013.26.3%
7KT&GS. Korea91,3005,2005.7%
8Philip Morris InternationalUSAUS$91.445.205.7%
9Japan TobaccoJapan¥4,1521944.7%

Table 2. Dividend Schedule (ex-dividend date)

RankCompanyCountryD1D2D3D4
1British American TobaccoUK27.06.2426.09.2419.12.2420.03.25
2AltriaUSA14.06.2413.09.2419.12.2421.03.25
3Imperial BrandsUK23.05.2415.08.2421.11.2413.02.25
4VectorUSA14.06.2412.09.2405.12.2407.03.25
5UniversalUSA05.04.2405.07.2403.10.2406.01.25
6Scandinavian TobaccoDenmark05.04.24
7Philip Morris InternationalUSA27.06.2424.09.2418.12.2419.03.25
8KT&GS. Korea26.12.24
9Japan TobaccoJapan28.06.2426.12.24

Recent changes:

(1) March 5, 2024: STG increased the annual dividend by 2% – from kr.8.25/share to kr.8.40/share

(2) February 13, 2024: Japan Tobacco increased the annual dividend by 3.2% – from ¥188/share to ¥194/share

(3) February 8, 2024: BAT increased the regular quarterly dividend by 2% – from 57.72p/share to 58.88p/share. The new annualized dividend amount is £2.3552/share

(4) September 13, 2023: PMI increased the regular quarterly dividend by 2.4% – from $1.27/share to $1.30/share. The new annualized dividend amount is $5.20/share

(5) August 24, 2023: Altria increased the regular quarterly dividend by 4.3% – from $0.94/share to $0.98/share. The new annualized dividend amount is $3.92/share

Notes:

(1) In May 2020, Imperial Brands cut its dividend (for the first time since going public in 1996) as it prioritized to decrease the £14Bn debt pile. The dividend was reduced by a third to an annual amount of £1.377/share. Since then, Imperial sequentially increased its annual dividend to £1.47/share – yet, this is still ~29% below the amount paid before the cut (£2.066/share).

(2) KT&G declared an interim dividend for the first-time in its history in 2023 (₩1,200; ex-dividend date: 29.06.23). Accordingly, the regular dividend is likely to be ₩4,000 (ex-dividend date: the last week of 2023) – corresponding to a total dividend payout of ₩5,200. It is unclear whether KT&G will make two dividend payments in 2024 and beyond.

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