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Philip Morris boosting dividend by 10.6 percent

NEW YORK (AP) -- Cigarette maker Philip Morris International Inc. is raising its quarterly dividend by 10.6 percent to 94 cents per share from 85 cents per share.

The company, whose brands include Marlboro, said Wednesday that the dividend will be paid on Oct. 11 to shareholders of record on Sept. 26.

Philip Morris is based in New York and Switzerland. Philip Morris International sells Marlboro and other cigarette brands outside of the U.S. It's the world's second-biggest cigarette seller behind state-controlled China National Tobacco Corp.