2024-04-13 14:36:00 ET
Analysts estimate that millions of people die prematurely around the globe every year from habitual cigarette usage. This has been an issue for over a century, which is why people and governments are consistently working to reduce smoking levels among the global population. But what if I told you the largest driver of cigarette reduction today is one of the world's largest tobacco companies?
Enter Phillip Morris International (NYSE: PM) . That's right, over the last decade-plus the global tobacco giant has invested billions and successfully pivoted its business away from cigarettes to "safer" nicotine products. Even though it has embraced these fast-growing nicotine products, its stock still trades at a cheap earnings multiple and has a strong dividend yielding over 5.5%. Investors are likely still valuing it as a tobacco stock, a sector that is considered to be in secular decline.
Here's why this misunderstood nicotine giant can be a fantastic income grower for your stock portfolio.
For further details see:
Is This 5.5% Yielding Dividend Grower the Ultimate Income Stock?