This section provides answers to frequently-asked questions regarding PMI, dividends, withholding tax, the Annual Report, shareholder publications, corporate governance, earnings releases and webcasts.
Louis C. Camilleri serves as Chairman of the Board. André Calantzopoulos serves as Chief Executive Officer. Jacek Olczak serves as Chief Financial Officer. For a listing of the Executive Officers, please visit the Corporate Governance section of this web site.
The primary listing for PMI stock is on the New York Stock Exchange and NYSE Euronext/Paris under the symbol "PM." The Company is also listed on the Swiss exchange under the symbol "PMI".
Where is PMI's corporate headquarters located? Is PMI a U.S.-based entity? If so, where is it incorporated?
PMI's corporate headquarters is at 120 Park Avenue, New York, NY, USA. The company's Operations Center is in Lausanne, Switzerland. PMI is a U.S.-based entity incorporated in Virginia.
A list of companies that PMI considers as peers can be found in the "Compensation Discussion and Analysis" section of PMI's 2016 Proxy Statement.
Yes. For more information pertaining to our most recent dividend, visit the Dividend Schedule and History page of this site.
For PMI's 2017 Schedule of Dividend Declaration, Record and Payment Dates, visit the Dividend Schedule and History page.
Record date: When a dividend is declared, the Company's Board of Directors sets the "record date" for that dividend. You must be a "shareholder of record" (on the company's books) as of the "record date" in order to receive the dividend.
Ex-dividend date: "Ex-dividend" is a financial expression meaning without dividend. In order to be a "shareholder of record" who is entitled to receive the dividend you must purchase shares before the ex-dividend date. The ex-dividend date is typically two business days before the record date. If you purchase stock on the ex-dividend date or after, you will not receive the next dividend payment. If you purchase before the ex-dividend date, you will receive the dividend.
Payable date: The "payable date" is the date the dividend is paid to the Company's "shareholders of record".
We announced a USD 18 billion, three-year share repurchase program in August 2012 and spent USD 11.9 billion to repurchase 135.3 million shares through September 30, 2014. We made no share repurchases in 2015 and 2016.
Does PMI have a Direct Stock Purchase and Dividend Reinvestment Program and, if so, how do I enroll?
PMI offers a Direct Stock Purchase and Dividend Reinvestment Plan administered by its transfer agent, Computershare. You may access the Computershare Website , or you may call toll-free +1 877 745 9350 in the United States or Canada. From outside the United States or Canada, shareholders may call toll-free +1 781 575 4310.
Yes. Except in certain instances, dividends paid by a U.S. corporation to a non-U.S. shareholder ordinarily are subject to U.S. withholding tax at a rate of 30%. However, in the case of dividends paid by an 80/20 company to a non-U.S. shareholder a certain part of the dividend payment is exempt from U.S. withholding tax.
An "80/20 company" is a U.S. company, 80% of whose gross income for a specified period is generated from active businesses outside the United States. Because nearly all of its income is earned in active businesses outside the United States, PMI has determined that it qualifies as an 80/20 company for U.S. tax purposes.
PMI has determined that 98% of any dividend it declares in 2017 to a non-U.S. shareholder is exempt from U.S. withholding tax.
This means that the remaining 2% of the total gross dividend is subject to U.S. withholding tax at the 30% statutory rate, unless the non-U.S. shareholder provides a Form W-8BEN claiming a reduced rate of withholding under an applicable income tax treaty.
In the case of a non-U.S. shareholder who is not eligible for a reduced rate of withholding under an applicable income tax treaty, except in certain limited circumstances, a withholding tax at the 30% statutory rate will be applied to the remaining 2% of the total gross dividend.
Will dividends declared by PMI always be eligible for a 98% exemption from U.S. withholding tax for non-U.S. shareholders?
Not necessarily. Although the company believes that dividends declared in 2017 qualify for the exemption, eligibility for the exemption is determined annually and no assurance can be given regarding whether dividends declared next year or in any subsequent year will qualify for the partial exemption nor that the percentage of the dividend exempt from withholding tax will not be greater or less than 98% in any subsequent year.
For all relevant information on withholding tax on dividends, registered shareholders in the U.S. or Canada can contact Computershare, PMI's transfer agent and shareholder provider, toll-free +1-877-745-9350. Shareholders from outside the United States or Canada may call toll-free +1 781-575-4310.
Shareholders who hold shares through a broker, bank or other nominee should contact their financial institution directly or call D.F. King & Co. +1-800-290-6431.
All PMI SEC Filings are available on this site.
To request printed copies you may call our shareholder publications center toll-free +1 866 713-8075.
Computershare is the transfer agent and shareholder provider for PMI. You may access the Computershare Website , or you may call toll-free +1 877 745 9350 in the United States or Canada. From outside the United States and Canada, shareholders may call toll-free +1 781 575 4310. Shareholders can also consent to receive all future shareholder publications online.
We invite you to view a list of current board members and read their biographies.
PMI anticipates holding its next Annual Meeting of Shareholders on Wednesday, May 3, 2017 in New York City. For updates, please visit the Annual Meeting page on this site.
For a schedule of upcoming earnings dates of 2017, please check event calendar .
Please check our event calendar for the most recent information on upcoming webcasts pertaining to earnings announcements, investor presentations and other investor-related events. An archive of PMI's webcasts is generally available online for 30 days following the date of the initial event.
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