Altria Group Inc. announced that it elected Steven W. Presley to its board of directors, effective Aug. 27. Presley has served as CEO of Refresco Benelux B.V., a global beverage solutions provider, since August 2025. He previously held several senior positions at Nestlé S.A., including CEO of Zone Americas from October 2024 to April 2025 and CEO of Zone North America from 2021 to 2024. Presley joined Nestlé USA in 1997 and held roles including CEO, CFO, and chief transformation officer. At Altria, he will serve on the Compensation and Talent Development; Innovation; and Finance committees.
Blog
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Calif. Bans Disposable Nicotine Vapes
California lawmakers passed legislation that would ban disposable nicotine vapes, with Assembly Bill 762 now awaiting Gov. Gavin Newsom’s signature. The bill, which passed the Senate Aug. 25 and Assembly Aug. 26, would prohibit the manufacture and import of single-use, battery-embedded e-cigarettes containing tobacco products beginning Jan. 1, 2027, and the sale or distribution of such devices on January 1, 2028; cannabis devices are exempt. To remain legal, vape devices would need to be refillable or use replaceable pods and have rechargeable batteries.
Supporters, including bill sponsor Assemblymember Jacqui Irwin and environmental groups, cited litter, toxic waste, and lithium-battery fire risks, while vaping industry representatives have argued that the products help adults quit smoking and warned that restrictions could push some consumers back to combustible cigarettes. California already prohibits most flavored tobacco products, including flavored vapes.
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Altria Increases Quarterly Dividend to $1.11 Per Share
Altria Group, Inc. today (Aug. 27) announced that its Board of Directors voted to increase its regular quarterly dividend by 4.7% to $1.11 per share versus the previous rate of $1.06 per share.The quarterly dividend is payable on October 9 to shareholders of record as of September 15.
The new annualized dividend rate is $4.44 per share, representing a dividend yield of 6.4% based on a closing stock price of $69.12 on August 26.
Altria said today’s dividend increase is consistent with its progressive dividend goal that targets mid-single-digit dividend per share growth annually through 2028. This increase marks the 61st dividend increase in the past 57 years.
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Japan Tobacco to Receive $1.6B Dividend from Subsidiary
Japan Tobacco Inc. (JT) announced that it will receive a $1.55 billion (¥252 billion) dividend from its consolidated subsidiary JT International Holding B.V. following a decision by the subsidiary’s board Aug. 24. The dividend was scheduled for receipt Aug. 26 and will be recorded as non-operating income in JT’s nonconsolidated financial statements for fiscal 2026. Because the payment comes from a consolidated subsidiary, JT said it will have no material impact on its consolidated financial results.
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FDA Releases New Smoking Cessation Posters
The U.S. Food and Drug Administration’s Center for Tobacco Products has released new posters encouraging adults who smoke cigarettes to keep trying to quit. The free materials feature positive, motivational messages and direct smokers to EveryTryCounts.gov, a cessation website developed with the National Cancer Institute that offers online counseling and quitting resources. The posters are available to healthcare professionals, community organizations, and other stakeholders to order, download, and print through FDA’s Tobacco Education Resource Library.
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Article Examines Move Toward Higher-Strength Pouches
An article published today (Aug. 27) by Financial Times reports that major tobacco companies are accelerating their push into higher-strength nicotine pouches as competition intensifies in the U.S. market, valued at about $5.2 billion. Higher-strength products now account for 17% of U.S. pouch volumes, according to Stifel analyst Matt Smith, with Philip Morris International’s 11mg Zyn Ultra becoming the highest-strength nicotine pouch cleared by the FDA. BAT plans to launch Velo Max in 8mg and 12mg strengths, while Altria is preparing a national expansion of its 12mg On! Plus.
Nearly 21 billion pouches were sold in the U.S. last year, according to Euromonitor, while smokeless nicotine product sales increased more than 8% in the first half of 2026 as cigarette sales declined 2.4%, according to NielsenIQ and Goldman Sachs. The companies are also expanding strength and format options as consumers develop preferences for stronger and higher-moisture products, with the FDA’s recent regulatory changes facilitating faster product introductions.
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Vietnam Health Official Backs ID Checks for Tobacco Sales
Vietnam’s Ministry of Health is proposing age verification for tobacco purchases, allowing retailers to ask customers who appear under 18 to show an identity card, passport, or verify their age through the VNeID national digital identification app. Dr. Duong Huy Luong, deputy director of the ministry’s Department of Medical Services Administration, said at an Aug. 26 seminar that the measure is reasonable and should be supported by effective enforcement and communication. He also called for the revised tobacco-control law to cover emerging nicotine products based on their characteristics rather than specific product names or technologies, while Hoang Duc Nam of the Ho Chi Minh Communist Youth Union said controls should extend to online sales and social media marketing, where young people increasingly encounter nicotine products.
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Riot Labs Cites Cochrane Review Against UK Vape Packaging Plans
British e-liquid manufacturer Riot Labs is citing a new Cochrane review showing that nicotine e-cigarettes produce higher six-month quit rates than nicotine replacement therapy. The review analyzed 80 randomized trials involving nearly 30,000 smokers and found high-certainty evidence that nicotine vapes outperform patches and gum, according to the company.
Riot CEO Ben Johnson said the findings highlight a gap between evidence and public perceptions of vaping, while warning that proposed UK restrictions on vape packaging, appearance and displays could undermine switching from cigarettes. The company noted that the review’s authors specifically advised consumers seeking to quit with e-cigarettes to use products tested and approved by their country’s regulator.
Riot said it will cite the Cochrane findings in its response to the Department of Health and Social Care’s consultation on vape packaging, which closes Oct. 2. The company is calling for a three-tier retailer licensing system that would include enhanced requirements for shops accessible to children and a separate category for age-restricted specialist vape retailers.
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Scandinavian Reports Stable First-Half Sales
Scandinavian Tobacco Group reported net sales of DKK 4.19 billion ($670 million) for the first half of 2026, down 3% year over year, including a 3% negative impact from currency movements. Organic sales at constant currencies declined 0.3%, while handmade cigars grew 6%. Machine-rolled cigars and smoking tobacco declined 4%, while the company said its XQS nicotine pouch business continues to expand into new markets and menthol products.
EBITDA before special items rose 2% to DKK 835 million ($133.6 million), while EBIT before special items fell 2% to DKK 581 million ($93 million). Free cash flow before acquisitions increased 53% to DKK 422 million ($67.5 million). The company said its strategic Focus2030 program is progressing and expects the planned DKK 1.3 billion ($208 million) divestment of the BREAK and Moro fine-cut tobacco brands to close before year-end.
Scandinavian Tobacco Group maintained its 2026 guidance, forecasting constant-currency net sales growth of -2% to 2%, an EBIT margin before special items of 13% to 14.5%, free cash flow before acquisitions of DKK 950 million ($152 million) to DKK 1.2 billion ($192 million), and adjusted EPS of DKK 9 to DKK 11 ($1.44 to $1.76).
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AIR Shareholders Approve $52.5M Share Repurchase
AIR Global announced that its shareholders approved all proposals at an Aug. 24 extraordinary general meeting, including a $52.5 million repurchase of 5 million ordinary shares from Harraden Circle Investors and related entities at $10.49 per share.
The meeting also approved amendments to the company’s articles of association concerning notices of general meetings.
Shareholders also authorized the company to conduct future share repurchases through off-market transactions and open-market purchases. AIR said it has no additional repurchases currently planned beyond the Harraden transaction.