Altria Increases Quarterly Dividend by 4.7% to $0.90 Per Share

Rhea-AI Summary

Altria Group, Inc. (NYSE: MO) has announced a 4.7% increase in its quarterly dividend to $0.90 per share, up from $0.86. The new dividend will be paid on October 12, 2021 to shareholders who are on record as of September 15, 2021. The annualized dividend rate is now $3.60 per share, reflecting a 7.4% yield at a closing stock price of $48.65 on August 25, 2021. This marks Altria’s 56th dividend increase in 52 years, aligning with its goal of an 80% payout ratio of adjusted earnings.

Positive

• Increased quarterly dividend by 4.7% to $0.90 per share.
• Annualized dividend rate reaches $3.60 per share.
• 7.4% yield based on recent stock price.
• 56th dividend increase in 52 years.

Negative

• None.

RICHMOND, Va.--(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 56^th dividend increase in the past 52 years.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210826005739/en/

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Source: Altria Group, Inc.

FAQ

What is the new dividend amount for Altria (MO)?

Altria's new quarterly dividend is $0.90 per share.

When is the dividend payable for Altria (MO)?

The dividend is payable on October 12, 2021.

What is the ex-dividend date for Altria's (MO) new dividend?

The ex-dividend date is September 14, 2021.

What is the annualized dividend rate for Altria (MO)?

The annualized dividend rate is $3.60 per share.

What is the dividend yield for Altria (MO)?

The dividend yield is 7.4% based on the closing stock price of $48.65.