|Altria Increases Quarterly Dividend by 8.2% to $0.66 per Common Share|
RICHMOND, Va.--(BUSINESS WIRE)--Aug. 24, 2017--
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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Source: Altria Group, Inc.
Altria Client Services
Investor Relations, 804-484-8222