In a magnanimous gesture, tobacco giant Philip Morris International is renewing its commitment to support veterans nationwide by investing more than $3 million in legal support services this year. The substantial funding will be directed towards legal clinics at select law schools, providing much-needed assistance to veterans navigating the complex rules and regulations for receiving the benefits they are entitled to.
Marian Salzman, Senior Vice President and Chief Corporate Citizenship Officer at Philip Morris, emphasized the company's dedication to serving those who have served in the armed forces. "As a company, we are throwing our weight behind serving the men and women who have raised their hands to serve in our armed forces, some of whom require additional support as they reintegrate into civilian life," Salzman stated. "This is a cause that resonates strongly among our employees. They are eager to make a difference in the lives of those who have sacrificed in support of our nation, its values, and its allies."
The renewed investment is informed by findings from a newly published white paper titled "Serving Those Who Served," which provides valuable insights into the challenges and needs of veterans across the country. In addition to legal services, the Philip Morris funding will also benefit local and national organizations working tirelessly to improve the lives of veterans.
"PMI's latest round of contributions is part of a broader veterans support effort that we have been implementing since 2022. We anticipate additional grants as we expand our U.S. footprint, including to local organizations such as Colorado Goldstar Mothers, and will continue to connect directly with veterans and their advocates to explore our best avenues of assistance," Salzman added.
The founding beneficiaries of the new funding include the Rocky Mountain Veterans Advocacy Project in Aurora, Colorado; the Veterans' Advocacy Law Clinic at the University of Arizona James E. Rogers College of Law in Tucson, Arizona; and the Veterans and Servicemembers Legal Clinic at the University of Florida Levin College of Law in Gainesville.
Kristine Huskey, Clinical Professor of Law and Director of the Veterans' Advocacy Law Clinic at the University of Arizona College of Law, emphasized the impact of every dollar received. "Every dollar we receive helps us reach more veterans and remove legal barriers that hinder the transition from military service to civilian life," Huskey said. "Through the law clinic, we're working to ensure that the men and women who served our nation can overcome legal obstacles and have full access to the benefits they've earned, including disability compensation. Support also increases our ability to train more law students, the next generation of lawyers, on veterans issues."
Philip Morris is also increasing its support for the Bob Woodruff Foundation, a leading organization working to ensure U.S. military veterans secure stable and successful futures. Anne Marie Dougherty, CEO of the Bob Woodruff Foundation, praised PMI's long-standing partnership, stating, "Philip Morris International has been a long-standing and highly valued partner of the foundation. Their steadfast support has touched the lives of thousands of veterans and their families. This latest commitment will allow us to further scale our efforts as we work to create bright futures for those who have contributed so much."
The charitable funding initiatives build on Philip Morris' robust philanthropic efforts, including more than $1 million in the 2022-23 fiscal year for organizations working to help U.S. armed services veterans and active service members. In 2023, the company provided a $500,000 grant to the group Iraq and Afghanistan Veterans of America and its subgrantees.
NYSE: PM
Current Price: $97.45
Change: +1.2%
The stock is currently in an uptrend, with a series of higher highs and higher lows on the daily chart. The stock has found support around the $95 level and faces resistance near the $100 mark. The stock is trading above its 50-day and 200-day moving averages, indicating a bullish trend. The MACD (Moving Average Convergence Divergence) indicator has recently crossed above the signal line, suggesting positive momentum. The stock has retraced approximately 50% of its previous decline from the highs, a Fibonacci level that often acts as resistance. The stock is trading near the upper Bollinger Band, which suggests that the stock may be overbought in the short term. Overall, the technical analysis suggests that Philip Morris International is in a bullish trend, with the stock trading above key moving averages and finding support at important levels. However, the stock may face some resistance near the $100 level and could be overbought in the short term, as indicated by its position relative to the Bollinger Bands.
