Thursday, July 30, 2020

Dividend Increase – Altria Group, Inc. (MO)

Monday, July 27th the Board of Directors of Altria Group, Inc. announced a quarterly dividend increase of from $ 0.84 to $ 0.86 per share that’s payable October 9, 2020 to holders of record September 15, 2020. This represents a 2.38% increase over last quarterly dividend.

Altria maintains its long-term objective of a dividend payout ratio target of approximately 80% of adjusted diluted EPS.

With current price $ 41.63 (Wednesday's close), this raise brings their dividend yield to 8.26%.

MO is a Dividend Champions with a 50 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 14.7, 12.5, 10.8 and 9.7. (Dividend Champions.xls)

Since I own 175 shares of MO, this will increase my portfolio's projected annual net dividend income by $ 10.43.

This increase raises my YOC to 10.22%.

Summary of 2020 Dividend Increases / Cuts

As you can see, a few rather large dividend cuts will have the effect that full-year growth is likely to remain negative. I also believe that there will come more cuts during this year.

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long MO

Thanks for stopping by!

1 comment:

  1. Hawk -

    It was nice seeing a dividend increase, especially during these volatile time periods.