• June 24, 2024

Altria announces dividend

 Altria announces dividend

The Altria Group said yesterday that its Board of Directors had voted to increase Altria’s regular quarterly dividend by 8.2 percent to $0.66 per common share versus the previous rate of $0.61 per common share.

The quarterly dividend is payable on October 10 to shareholders of record as of September 15. The ex-dividend date is September 14.

‘The new annualized dividend rate is $2.64 per common share, representing a yield of 4.1 percent based on Altria’s closing stock price of $63.69 on August 18, 2017,’ the company said in a note posted on its website.

‘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 pay-out ratio target of approximately 80 percent of its adjusted diluted earnings per share.

‘Altria has increased its dividend 51 times in the past 48 years.’