Altria Increases Quarterly Dividend by 4.3% to $0.98 Per Share

Rhea-AI Summary

Altria Group, Inc. (NYSE: MO) increases quarterly dividend by 4.3% to $0.98 per share, representing a dividend yield of 9.1%.

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• Dividend increase of 4.3% to $0.98 per share

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RICHMOND, Va.--(BUSINESS WIRE)-- Altria Group, Inc. (NYSE: MO) today announced that our Board of Directors voted to increase our regular quarterly dividend by 4.3% to $0.98 per share versus the previous rate of $0.94 per share. The quarterly dividend is payable on October 10, 2023 to shareholders of record as of September 15, 2023. The ex-dividend date is September 14, 2023.

The new annualized dividend rate is $3.92 per share, representing a dividend yield of 9.1% based on our closing stock price of $43.12 on August 23, 2023.

Today’s dividend increase is consistent with our new progressive dividend goal that we established at our 2023 Investor Day that targets mid-single digits dividend per share growth annually. This increase marks the 58^th dividend increase in the past 54 years.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230824145124/en/

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Source: Altria Group, Inc.