Yesterday the Board of Directors of Altria Group Inc. announced a quarterly dividend increase of from $ 0.565 to $ 0.61 per share that’s payable October 11, 2016 to holders of record September 15, 2016. This represents a 7.96% increase to regular quarterly dividends. Altria has increased its dividend 50 times in the past 47 years. The new annualized dividend rate is $ 2.44 per common share, representing a yield of 3.7% based on Altria’s closing stock price of $ 65.92 on August 25, 2016.
Since I own 175 shares, this will increase my portfolio's projected annual net dividend income by $ 23.47.
That increase rises my YOC to 7.25%.
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Thanks for the update!
ReplyDeleteLove it when stocks I own raise their dividends! Thanks for the update and happy investing!
ReplyDeleteI seen that yesterday. Some were speculating that it would be 10% but you cant complaign with this raise. id rather moderate the raises that way if they do run into trouble they can still give raises no since in giving it all in one year lol.
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Doug
When I redid my portfolio I bought Universal instead of Altria. I think it had to do with their payout ratio or something. Either way as long as the dividend keeps raising we are good.
ReplyDeleteCheers,
DFG