Building an investment portfolio oriented toward established dividend-paying stocks is one way that investors can achieve financial independence. What's financial independence? In this case, it means that an individual's investment income exceeds his or her expenses.

By virtue of its industry-leading $146 billion market capitalization, Philip Morris International (NYSE: PM) is certainly well known to income investors. Here are three reasons to consider adding This blue-chip stock trading at a discount to your portfolio if you're an income-focused investor.

Since the launch of its Iqos heat-not-burn product in Japan and Italy in 2014, Philip Morris International has been on a mission to provide consumers with alternatives to cigarettes. And if its financial results for the second quarter ended June 30 are any indication, the company's investments over the years to fulfill this objective appear to be paying off.

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Source Fool.com