|Day's range||2.2900 - 2.4900|
Tobacco company Philip Morris International (NYSE: PM) was created when Altria Group (NYSE: MO) spun off its non-U.S. businesses in 2008. Philip Morris is a U.S. company that reports in USD; when the dollar is stronger than currencies in other foreign markets, the company takes an exchange rate hit on every dollar it brings in. Here are three reasons to consider buying Philip Morris stock today.
British American Tobacco should be another candidate, according to shareholder GQG. BAT — which has not commented on the issue — is barely a UK company at all, if its shareholder base is anything to go by. BAT’s biggest shareholder is US behemoth Capital Group with over 16 per cent of the company.
Among forecasters surveyed by the National Association for Business Economics, 60% of respondents think it's likely the U.S. will slip into a recession this year. In the face of market volatility and the looming possibility of a recession, investors might be wondering how best to play the current environment. Predicting exactly what the market and broader economy will do over the next year may not be possible, but having top-tier dividend stocks backed by businesses that can withstand harsh conditions is a way to minimize downside risk and still leave the door open for returns.