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
Thanks for stopping by!
No comments:
Post a Comment