History and Background of Philip Morris
             Philip Morris was a tobacconist and importer of fine cigars. He made his first cigarette in 1854, and opened his first tobacco store on Bond Street in London. In 1881 Philip Morris went public in London. The company was incorporated in the United States in the early 1900's. Ownership was split 50-50 between the British parent company and the American partners. In 1919 the Philip Morris coronet logo was introduced. In 1928 the first dividend payment was given to stockholders, ten years later preferred stock was offered to the public. Ultimately, a new firm owned by American stockholders, acquired the U.S. Philip Morris Company under the name of Philip Morris & Co., Ltd., Inc.
             In 1967 the corporate structure was reorganized to create Philip Morris Inc. and three operating divisions: Philip Morris Domestic, Philip Morris International and Philip Morris Industrial. One year later Philip Morris Domestic changed its name to Philip Morris U.S.A. Philip Morris U.S.A. is the nations primary cigarette manufacturer, and Philip Morris International manages the international cigarette business, selling the product in more than 180 countries.
             In 1977 Philip Morris declared its 200th consecutive regular quarterly dividend. The corporate framework of Philip Morris Inc. was restructured, Philip Morris Companies Inc., a holding company, became the publicly held parent of Philip Morris Companies Inc. In 2000, the company marked the 18th consecutive year with highest revenues, income, volume and market share among U.S. tobacco companies.
             Philip Morris is recognized for its involvement in many charitable programs. In 1996 Philip Morris created Philip Morris Cares Day as a way to honor Dr. Martin Luther King, Jr. On designated days employees are given time off work to volunteer at social service agencies in their community. Philip Morris companies have been giving to environmental causes for more t...