I would be very surprised if a combined entity paid out less in dividends to shareholders than the predecessor entities, on a combined basis. Tobacco stocks are the quintessential dividend stocks.
I think it is a good combo. MO gets free access to IQOS, PM gets a piece of JUUL and can market it internationally, PM also gets diversification through BUD, and there's Cannabis on the horizon.
The U.S. litigation fears that plagued the pre-split entity have passed, as far as cigarettes are concerned. Whether vaping products become a litigation magnet is another matter.
I think it is a good combo. MO gets free access to IQOS, PM gets a piece of JUUL and can market it internationally, PM also gets diversification through BUD, and there's Cannabis on the horizon.
The U.S. litigation fears that plagued the pre-split entity have passed, as far as cigarettes are concerned. Whether vaping products become a litigation magnet is another matter.