Friday, August 26, 2022

Dividend Increase - Altria Group, Inc. (MO)


Thursday, August 25th the Board of Directors of Altria Group, Inc. (MO) announced a quarterly dividend increase of from $ 0.90 to $ 0.94 per share that’s payable October 11, 2022 to holders of record September 15, 2022. This represents a 4.44% 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 $ 46.39 (yesterday's close), this raise brings their dividend yield to 8.11%.


MO is a Dividend Champions with a 53 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.0, 6.8, 8.6 and 8.4 (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 tenth 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 $ 0.94, or 95.8 percent.


This increase raises my YOC to 11.2%.



Summary of 2022 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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