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%.
Altria is a Dividend Champions with a 52 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.0, 10.7, 9.7 and 9.1 (Dividend Champions.xls)
Since I own 175 shares of MO, this will increase my portfolio's projected annual net dividend income by $ 20.86.
This increase was in line with my expectations.
This is the 8th dividend increase I've received from Altria since initiating a position in August 2013. During this period, the quarterly dividend has risen nicely from $ 0.48 to $ 0.90, or 87.5 percent.
This increase raises my YOC to 10.69%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long MO
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You've got to love that 10%+ YOC. Getting 10% of your capital back every single year on top of that income growing is fantastic. It's only the 4th raise or so for me since I bought MO and I can't wait to get those raise counts up.
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