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BRIEF-Philip Morris Says Its Canadian Subsidiary, RBH, Granted CCAA Protection

Published 2019-03-22, 09:07 p/m
Updated 2019-03-22, 09:10 p/m
© Reuters.  BRIEF-Philip Morris Says Its Canadian Subsidiary, RBH, Granted CCAA Protection

March 22 (Reuters) - Philip Morris International Inc (NYSE:PM) PM.N :

* PHILIP MORRIS INTERNATIONAL INC.'S CANADIAN SUBSIDIARY, ROTHMANS, BENSON & HEDGES INC., GRANTED CCAA PROTECTION

* PHILIP MORRIS INTERNATIONAL INC - REVISES FULL-YEAR 2019 REPORTED DILUTED EPS FORECAST TO BE AT LEAST $4.90 AT PREVAILING EXCHANGE RATES

* PHILIP MORRIS INTERNATIONAL INC - 2019 FORECAST CONTINUES TO REPRESENT CURRENCY-NEUTRAL, LIKE-FOR-LIKE ADJUSTED DILUTED EPS GROWTH OF AT LEAST 8%

* PHILIP MORRIS - CCAA PROCESS ALLOWS RBH TO CARRY ON ITS BUSINESS IN ORDINARY COURSE WITH MINIMAL DISRUPTION TO ITS CUSTOMERS, SUPPLIERS, EMPLOYEES

* PHILIP MORRIS - PMI WILL DECONSOLIDATE RBH FROM ITS FINANCIAL STATEMENTS, RESULTING IN ESTIMATED ONE-TIME NON-CASH CHARGE OF ABOUT $0.10 PER SHARE

* PHILIP MORRIS - RBH DOES NOT ANTICIPATE PAYING DIVIDENDS

* PHILIP MORRIS INTERNATIONAL - DECONSOLIDATION WILL NOT HAVE AN IMPACT ON PMI'S CURRENT ANNUALIZED DIVIDEND RATE

* PHILIP MORRIS INTERNATIONAL - 2019 OPERATING CASH FLOW, WHICH, DUE TO IMPACT OF DECONSOLIDATION, IS NOW ESTIMATED TO BE APPROXIMATELY $9.5 BILLION

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