|Altria Increases Quarterly Dividend by 8.0% to $0.61 per Common Share|
RICHMOND, Va.--(BUSINESS WIRE)--Aug. 25, 2016--
Altria Group, Inc. (Altria) (NYSE:MO) today announced that its Board of
Directors voted to increase Altria’s regular quarterly dividend by 8.0%
to $0.61 per common share versus the previous rate of $0.565 per common
share. The quarterly dividend is payable on October 11, 2016, to
shareholders of record as of September 15, 2016. The ex-dividend date is
September 13, 2016.
The new annualized dividend rate is $2.44 per common share, representing
a yield of 3.7% based on Altria’s closing stock price of $66.33 on
August 19, 2016.
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 50 times in the past 47 years.
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Source: Altria Group, Inc.
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