CONSUMER PRODUCTS
- Share via
From Times Staff and Wire Reports
Philip Morris Plans $6-Billion Stock Buyback: Philip Morris Cos. took major steps to strengthen its stock price. It raised the shareholder dividend nearly 20% and pledged $6 billion to buying back stock over the next three years. The moves, authorized by the board of directors, come as the consumer product powerhouse known for Marlboro cigarettes, Miller beers and Jell-O desserts is under pressure from large investors to boost the value of their holdings.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
