Today the Board of Directors of Altria Group Inc. announced a quarterly dividend increase of from $0.52 to $0.565 per share that’s payable October 9, 2015 to holders of record September 15, 2015. This represents a 8.7% increase to regular quarterly dividends. Altria has increased its dividend 49 times in the past 46 years. The new annualized dividend rate is $2.26 per common share, representing a yield of 4.1% based on Altria’s closing stock price of $54.73 on August 20, 2015.
Since I own 175 shares, this will increase my portfolio's projected annual net dividend income by $23.46.
That increase rises my YOC to 6.71%.
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You can follow the development of my dividends here.