Altria Group, Inc. - MO STOCK NEWS

Altria Group, Inc. (NYSE: MO) has appointed Marjorie M. Connelly and R. Matt Davis to its Board of Directors as of October 27, 2021. Connelly, with a robust background in operations and strategy from her tenure at Convergys, will serve on multiple committees, enhancing the board's oversight. Davis, formerly of Dow Inc., brings significant corporate affairs experience. The board also announces the retirement of John T. Casteen III, effective after his term, acknowledging his decade-long contributions. Altria aims to lead the transition to a smoke-free future, focusing on reduced-risk products for adult consumers.

Altria Group (NYSE: MO) is set to host a live audio webcast on October 28, 2021, at 9:00 a.m. Eastern Time to discuss its 2021 third-quarter business results. A press release will be issued at 7:00 a.m. Eastern Time the same day. CEO Billy Gifford and CFO Sal Mancuso will present the results and respond to questions. The webcast will be accessible on Altria’s website, requiring pre-event registration. An archived version will also be available post-event.

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.

Altria Group, Inc. (MO) announced strong Q2 2021 results, with net revenues of $6.94 billion, an 8.9% increase year-over-year. Adjusted diluted EPS rose by 12.8% to $1.23, with full-year EPS guidance narrowed to $4.56 to $4.62, reflecting a 4.5% to 6% growth from 2020. The company repurchased $650 million of shares and declared $1.6 billion in dividends. However, the expansion of its IQOS product line has faced delays due to patent infringement issues, potentially impacting future growth in heated tobacco products.

Altria Group (NYSE: MO) will hold a live audio webcast on July 29, 2021, at 9:00 a.m. ET to discuss its 2021 second-quarter and first-half business results. A press release with the results will be issued at 7:00 a.m. ET the same day. CEO Billy Gifford and CFO Sal Mancuso will present and answer questions from the investment community and media. The webcast will be in listen-only mode, and pre-event registration is required. An archived version will also be available on altria.com.

Altria Group announced the sale of its subsidiary, Ste. Michelle Wine Estates, to Sycamore Partners for about $1.2 billion. The all-cash transaction includes the assumption of certain liabilities. Expected to close in the second half of 2021, it is subject to financing and regulatory approvals. Altria plans to use the proceeds for share repurchases, enhancing value for shareholders. No material gain or loss from the transaction is anticipated, as it won't affect adjusted diluted earnings per share.

Altria Group (NYSE: MO) held its 2021 Annual Meeting of Shareholders, where CEO Billy Gifford reviewed 2020 financial results and 2021 guidance. He reaffirmed adjusted diluted EPS guidance of $4.49 to $4.62, projecting 3% to 6% growth from 2020's $4.36. The meeting resulted in the election of 11 directors and the selection of PricewaterhouseCoopers LLP as the independent accounting firm. Kathryn McQuade was elected as independent Chair of the Board. The full-year EPS guidance accounts for significant investments in non-combustible product development and enhanced consumer engagement efforts.

Altria Group has elected Kathryn B. McQuade as the independent Chair of the Board, effective following the 2021 Annual Meeting on May 20, 2021. McQuade, who joined the Board in 2012, will be the first woman to hold this position. Her notable experience spans finance and executive roles in regulated industries, which is expected to enhance Altria's strategy of transitioning adult smokers to non-combustible products. The election follows the passing of former Chairman Thomas F. Farrell II in April 2021.

Altria Group (NYSE: MO) will host its 2021 Annual Meeting of Shareholders on May 20, 2021, at 9:00 a.m. Eastern Time, via live audio webcast. Shareholders as of the record date, March 29, 2021, can vote electronically and ask questions during the meeting. Non-shareholders can listen as guests but cannot participate in voting or questioning. Detailed attendance instructions are available at www.altria.com/webcasts. An archived version of the webcast will also be accessible on Altria's website.