Altria Increases Quarterly Dividend by 4.4% to $0.94 Per Share

Rhea-AI Summary

Altria Group, Inc. (NYSE: MO) has announced a 4.4% increase in its quarterly dividend, raising it to $0.94 per share from $0.90. This dividend will be payable on October 11, 2022 to shareholders of record as of September 15, 2022, with an ex-dividend date of September 14, 2022. The new annualized dividend rate stands at $3.76 per share, yielding 8.2% based on the closing stock price of $45.80 on August 24, 2022. This marks Altria's 57th dividend increase in 53 years.

Positive

• Dividend increased by 4.4% to $0.94 per share.
• Annualized dividend rate now $3.76 per share, yielding 8.2%.
• Consistent with long-term goal of an 80% dividend payout ratio.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Altria Group, Inc. (NYSE: MO) today announced that our Board of Directors voted to increase our regular quarterly dividend by 4.4% to $0.94 per share versus the previous rate of $0.90 per share. The quarterly dividend is payable on October 11, 2022 to shareholders of record as of September 15, 2022. The ex-dividend date is September 14, 2022.

The new annualized dividend rate is $3.76 per share, representing a dividend yield of 8.2% based on our closing stock price of $45.80 on August 24, 2022.

Today’s dividend increase reflects our intention to return a large amount of cash to shareholders in the form of dividends and is consistent with our long-term objective of a dividend payout ratio target of approximately 80% of our adjusted diluted earnings per share. This increase marks the 57^th dividend increase in the past 53 years.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005441/en/

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Source: Altria Group, Inc.

FAQ

What is Altria's new dividend amount for Q4 2022?

Altria's new quarterly dividend amount is $0.94 per share.

What is the ex-dividend date for Altria's dividend?

The ex-dividend date is September 14, 2022.

When will the dividend be paid to shareholders?

The dividend will be paid on October 11, 2022.

What is Altria's annualized dividend rate?

The annualized dividend rate is $3.76 per share.

How does the recent dividend increase reflect Altria's financial strategy?

The increase reflects Altria's commitment to returning cash to shareholders and maintaining a targeted dividend payout ratio of approximately 80%.