Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
The yield on cost (YOC) is 3.08%.
YIELD ON COST (YOC)
3.08%
PM now pays $5.88 per share a year. Measured against the price it actually traded at back then, a long-term holder is earning:
| If you bought | Price then | Yield on cost today |
|---|---|---|
| 10 years ago(2016-09-14) | $98.62 | 5.96% |
| 5 years ago(2021-09-09) | $102.58 | 5.73% |
| 3 years ago(2023-09-13) | $95.25 | 6.17% |
| 1 year ago(2025-09-11) | $167.90 | 3.50% |
| Buying today(at $190.48) | $190.48 | 3.08% |
Projection: starting from today's 3.08% yield, assuming the dividend keeps compounding at 3.2% a year — the recent growth rate of its annual payout. Boards set dividends each year, so actual figures will differ.
Today
3.08%
In 3 years
3.39%
In 5 years
3.62%
In 10 years
4.25%
Try your own purchase price, dividend and growth rate for Philip Morris International Inc. (PM).
Starting Yield
3.09%
Ending YOC
4.97%
Year 15 Dividend
$9.47
Cum. Dividends Recd.
$114.82
| Year | Projected Div. / Share | YoY Dividend Hike | Yield on Cost (YOC) | Total Dividends Recd. |
|---|---|---|---|---|
| Initial | $5.88 | N/A | 3.09% | $0.00 |
| Year 1 | $6.07 | +3.23% | 3.19% | $6.07 |
| Year 2 | $6.27 | +3.23% | 3.29% | $12.34 |
| Year 3 | $6.47 | +3.23% | 3.40% | $18.80 |
| Year 4 | $6.68 | +3.23% | 3.51% | $25.48 |
| Year 5 | $6.89 | +3.23% | 3.62% | $32.37 |
| Year 6 | $7.12 | +3.23% | 3.74% | $39.49 |
| Year 7 | $7.35 | +3.23% | 3.86% | $46.84 |
| Year 8 | $7.58 | +3.23% | 3.98% | $54.42 |
| Year 9 | $7.83 | +3.23% | 4.11% | $62.25 |
| Year 10 | $8.08 | +3.23% | 4.24% | $70.33 |
| Year 11 | $8.34 | +3.23% | 4.38% | $78.67 |
| Year 12 | $8.61 | +3.23% | 4.52% | $87.28 |
| Year 13 | $8.89 | +3.23% | 4.67% | $96.17 |
| Year 14 | $9.18 | +3.23% | 4.82% | $105.34 |
| Year 15 | $9.47 | +3.23% | 4.97% | $114.82 |
Yield on cost is the dividend yield measured against your original purchase price, not today's price. As a company raises its dividend, the yield on what you actually paid keeps rising even when the market yield holds steady.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
