Altria (MO) Raises Quarterly Dividend 4.7% to $1.11

Dividend Increase Details

Altria Group, Inc. (MO) announced on August 27 that its Board of Directors approved a 4.7% increase in its regular quarterly dividend, raising it to $1.11 per share from the previous $1.06. The dividend is payable on October 9 to shareholders of record as of September 15.

The new annualized dividend rate stands at $4.44 per share. Based on the closing stock price of $69.12 on August 26, this represents a dividend yield of 6.4%.

Consistent with Progressive Dividend Policy

Altria stated that this increase aligns with its progressive dividend goal, which targets mid-single-digit annual dividend per share growth through 2028. This marks the 61st dividend increase in the past 57 years, underscoring the company's long-term commitment to returning value to shareholders.

For reference, investors can view Altria's dividend history and use the dividend calculator to project potential income.

What it means for income investors

Altria's latest increase continues its track record of annual dividend growth, providing a stable income stream for shareholders. With a yield above 6%, the stock remains a notable consideration for income-focused portfolios, though past performance does not guarantee future results.

Reporting based on: Tobacco Reporter. Figures verified against market data where available.