|Altria Increases Quarterly Dividend by 6.1% to $0.70 per Common Share|
RICHMOND, Va.--(BUSINESS WIRE)--Mar. 1, 2018--
Altria Group, Inc. (Altria) (NYSE: MO) today announced that its Board of
Directors voted to increase Altria’s regular quarterly dividend by 6.1%
to $0.70 per common share versus the previous rate of $0.66 per common
share. The quarterly dividend is payable on April 10, 2018, to
shareholders of record as of March 15, 2018. The ex-dividend date is
March 14, 2018.
The new annualized dividend rate is $2.80 per common share, representing
a yield of 4.3% based on Altria’s closing stock price of $64.59 on
February 23, 2018.
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 52 times in the past 49 years.
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Source: Altria Group, Inc.
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