|Altria Increases Quarterly Dividend by 7.9% to $0.41 per Common Share|
RICHMOND, Va., Aug 26, 2011 (BUSINESS WIRE) --
Altria Group, Inc. (Altria) (NYSE: MO) today announced that its Board of Directors voted to increase Altria's regular quarterly dividend by 7.9% to $0.41 per common share versus the previous rate of $0.38 per common share. The new annualized dividend rate is $1.64 per common share. The quarterly dividend is payable on October 11, 2011 to shareholders of record as of September 15, 2011. The ex-dividend date is September 13, 2011.
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 45 times in the last 42 years, and the new annualized dividend rate represents a yield of 6.3%, based on Altria's closing stock price of $26.01 on August 25, 2011.
SOURCE: Altria Group, Inc.
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