Here's Why I Just Bought Into This Dividend-Paying Growth Stock

After it occupied a space near the top of my watchlist for a long time, I finally took the opportunity to add shares of global tobacco giant Philip Morris International (NYSE: PM) to my portfolio this week. I like the resilient nature of the company's business -- most smokers aren't going to stop buying cigarettes just because of inflation or an uncertain economic environment. I also like its valuation and its compelling dividend yield.

But there are plenty of consumer staples stocks one can buy for those reasons, and I know skeptics are saying: "That's great, but you bought a melting iceberg." I also view Philip Morris as a technological leader with some exciting growth drivers in its arsenal, which I'll outline below.

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Source Fool.com