Altria Increases Quarterly Dividend by 8.2% to $0.66 per Common Share
August 24 2017 - 2:45PM
Business Wire
Altria Group, Inc. (Altria) (NYSE: MO) today announced that its
Board of Directors voted to increase Altria’s regular quarterly
dividend by 8.2% to $0.66 per common share versus the previous rate
of $0.61 per common share. The quarterly dividend is payable on
October 10, 2017, to shareholders of record as of September 15,
2017. The ex-dividend date is September 14, 2017.
The new annualized dividend rate is $2.64 per common share,
representing a yield of 4.1% based on Altria’s closing stock price
of $63.69 on August 18, 2017.
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 dividend payout ratio target of
approximately 80% of its adjusted diluted earnings per share.
Altria has increased its dividend 51 times in the past 48
years.
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