Altria Increases Quarterly Dividend by 4.7% to $0.90 Per Share
26 August 2021 - 9:45PM
Business Wire
Altria Group, Inc. (Altria) (NYSE: MO) today announced that its
Board of Directors voted to increase Altria’s regular quarterly
dividend by 4.7% to $0.90 per share versus the previous rate of
$0.86 per share. The quarterly dividend is payable on October 12,
2021 to shareholders of record as of September 15, 2021. The
ex-dividend date is September 14, 2021.
The new annualized dividend rate is $3.60 per share,
representing a yield of 7.4% based on Altria’s closing stock price
of $48.65 on August 25, 2021.
Today’s dividend increase reflects Altria’s intention to return
a large amount of cash to shareholders in the form of dividends and
is consistent with Altria’s long-term objective of a dividend
payout ratio target of approximately 80% of its adjusted diluted
earnings per share. This increase marks the 56th dividend increase
in the past 52 years.
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