Yesterday, August 26th the Board of Directors of Altria
Group, Inc. (MO) announced
a quarterly dividend increase of from $ 0.86 to $ 0.90 per share that’s payable
October 12, 2021 to holders of record September 15, 2021. This represents a 4.65%
increase over the last quarterly dividend.
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 56th dividend increase in the past 52 years.
With current price $ 48.75 (yesterday's close), this
raise brings their dividend yield to 7.38%.