En SA le dan un pay out de 78,82%.
Lo que no ha gustado es el guidance, algo por debajo de las expectativas
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Hola,
Cómo meteis en la declaración los dividendos de Phillip Morris? En que casilla? De primeras uno piensa, yo por lo menos, que se deberían tratar como el caso de los de UK, que no estan sometidos a doble tributación. El tema es que sí esta y si son pocos dividendos no pasa nada, pero en cantidades más generosas ese poco tanto por ciento estaría bien recuperarlo del exceso tributario de doble imposición.
Un saludo
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No sé, simplemente la parte de impuestos que cobran en USA lo sumo al resto de impuestos de dividendos USA y lo meto en la casilla correspondiente. Creo que era la casilla 588.
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En ing hay dos documentos por cada dividendo. Uno con importe más alto y sin retención de origen y otro más bajo que sí lleva. En la declaración pones ambos en las casillas correspondientes.
En otros brokers pienso que será similar
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No sabía que entraban dos dividendos, gracias por la aclaración 
La venta de Marlboro Ranch apaga los sueños de vacaciones de los fumadores
El fabricante de cigarrillos Philip Morris USA vendió la propiedad de Montana y algunos están decepcionados; ‘Decidí que ahora es un buen momento para intentar dejar de fumar’
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“PMI intends to operate Vectura as an autonomous business unit that will form the backbone of its inhaled therapeutics business”
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Philip Morris sigue haciendo adquisiciones en el sector farmacéutico.
Philip Morris International (NYSE: PM) ha adquirido OtiTopic, una empresa de desarrollo de fármacos respiratorios de EE. UU. Con un tratamiento con ácido acetilsalicílico inhalable (AAS) en etapa tardía para el infarto agudo de miocardio.
Jacek Olczak, CEO de PMI. “Tenemos experiencia de clase mundial en la investigación, el desarrollo y la comercialización de dispositivos inhalables y de aerosolización para ayudar a acelerar la entrega de este emocionante producto al mercado”.
OtiTopic está entrando en esta transacción para acelerar la presentación ante la FDA de ASPRIHALE, con el objetivo de ofrecer terapias innovadoras para personas con riesgo intermedio a alto de infarto de miocardio.
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Y así fue como PM se convirtió en una empresa farmacéutica 
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Bueno habrá quien diga que no cambia de sector, se pasa del sector de las drogas mal vistas para intentar entrar en el sector de drogas bien vistas (Como dirían los ingleses seguiría siendo un drug-maker)
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Ejem ejem
¿ Quién dijo aquello de "zapatero a tus zapatos ?.
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Pues no sé quién lo digo pero me parece muy acertado en este caso.
Tabaquero a tus tabacos.
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Limited Risk to Valuation as PMI’s Bid for Vectura Goes to Auction
The battle between Philip Morris International, or PMI, and private equity group Carlyle to acquire the U.K.-based respiratory drug maker Vectura (not covered) will go to a 5-day auction beginning Aug. 11. PMI’s latest cash offer of 165 pence per share values Vectura at 23.5 times adjusted 2022 earnings, and 5.4 times revenue. This does not look out of whack with historical deals in the drug delivery sector, according to Pitchbook data, although PMI’s commitment to allow Vectura to operate as an autonomous unit may limit near-term efficiencies, and a slightly higher bid would likely have no impact on our $108 fair value estimate for PMI. We still regard the company as being slightly undervalued, and its market multiple at the high end of the tobacco group is justified by its leadership position in cigarette alternatives.
The cigarette diversification strategy has so far mainly focused on cigarette substitutes, and in the second quarter of this year, reduced risk products contributed over 27% of net revenue. The interest in Vectura, however, is an extension of the diversification strategy that could generate non-nicotine revenue streams going forward. The company hopes that Vectura’s inhaler technologies, used to deliver cardiovascular or pain management drugs, will boost its environmental, social, and governance credentials. Another benefit of the acquisition to PMI would include Vectura’s expertise in navigating the highly regulated pharmaceutical industry, although we would argue that such expertise is not exclusive to Vectura and would not justify a valuation premium.
There are some genuine stakeholder concerns over PMI’s potential acquisition. Employees, suppliers and customers may all be disturbed by being acquired by a tobacco company, and there may be risk to Vectura’s 4-year revenue CAGR of 28%, which would create even less value for PMI. The outcome of the upcoming auction may well hinge on how broadly Vectura’s board defines its fiduciary dutie
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Parece que, salvo sorpresa de última hora, se llevará el gato al agua.
# Tobacco group PMI wins support of Vectura’s board for £1bn takeover
The board of UK inhaler maker Vectura has agreed to support a £1bn takeover bid from cigarette company Philip Morris International after a fierce bidding war, despite concerted lobbying by health groups. Vectura’s board on Thursday said PMI’s offer was “fair and reasonable” and would give shareholders a higher price than a rival bid from the US private equity group Carlyle. The tobacco company plans to “increase research and development investment and to operate Vectura as an autonomous business unit”, the board said in a statement, adding that it will now recommend the offer to shareholders. It will need approval of just over 50 per cent to succeed. PMI has said it wants to buy Vectura to expand revenues in its “beyond nicotine” business as it attempts to reduce its reliance on cigarette sales. Its bid sharpens what one top-20 Vectura shareholder this week described as a “dilemma”. “Many of our investors want us to be able to show we’re putting ESG up there” alongside financial returns, he said ahead of the board’s announcement. “It’s a very difficult one.” He said he feared that selling to the tobacco group might enable it to use Vectura as “window dressing” or for “greenwashing”. However, a PMI spokesman hit back at “critics of the transformation of the tobacco industry”. The company “has been very clear about its strategy to leave cigarettes behind”. Smoke-free products now accounted for 28 per cent of PMI’s revenues, up from “almost zero” in 2015, he said. PMI has offered 165p per share for Vectura, compared with Carlyle’s 155p offer. The buyout group this week appealed to shareholders to back its lower bid, citing the possible impact on “wider stakeholders” of selling the company to a tobacco business. “We are extremely shocked and concerned” by the board’s decision to support the PMI bid, said Sarah Woolnough, chief executive of Asthma UK and the British Lung Foundation. “It’s totally absurd that PMI could make more money from providing treatments to the very people they have made ill in the first place.” A group of 26 health charities, public health experts and doctors wrote to Vectura’s board ahead of its decision, saying the company’s “future commercial viability as a company dedicated to improving respiratory health would be seriously jeopardised should the PMI takeover proceed”. The letter said the global health community “utterly rejected” the notion that PMI was becoming a wellness company. Axa Investment Managers, TIG Advisers and Berry Street Capital Management, which together own 11.2 per cent of Vectura shares, had made a commitment to back Carlyle unless a rival offered 10 per cent more. Axa signed a “tobacco-free finance pledge” in 2018, saying it would divest from the industry because its products are a “major threat to public health”. PMI did not raise its bid to meet that threshold by a 5pm deadline on Thursday. Carlyle and PMI had been in a bidding war for Vectura for several weeks but the private equity group said this week that it would no longer compete with the cigarette maker on price. JPMorgan and Rothschild & Co advised Vectura.
Un saludo.
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Muy interesante esta linea. Y digan lo que digan con un lavado de cara buenisimo.
De cara a medios y redes no es lo mismo un substituto de la nicotina que algo que te ayude a dejarla. Podriamos volver a ver anuncios de algo relacionado con las tabacaleras en los deportes, f1 o hollywwod, john waine con un inhalador
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Manda 
, reafirman el pronóstico que ya hicieron en su día para el EPS. Añaden que esperan estar en el la parte alta del rango estimado para el crecimiento orgánico estimado entre el 12% y el 14% y le meten rejón de algo mas del 3% abajo.
El único “pero” que creo han puesto en la presentación ha sido que se pueden ver afectados en el número de dispositivos IQOS distribuidos debido a la escasez global de semiconductores.
Con un crecimiento orgánico estimado del 12%-14% confirmado según sus previsiones. Se ve que en la otra esquina de la calle estarán repartiendo sacos de billetes a la gente porque sino no lo entiendo.
Un saludo.
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A mi me parece, que la acción ya llevaba una buena carrera los últimos meses y cualquier excusa es factible para corregir, si las previsiones de crecimiento se cumplen será una buena noticia.
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Yo en base a las noticias y a la subida de dividendo prevista para la senana que viene ampliaré.
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