|Altria Increases Quarterly Dividend by 14.3% to $0.80 per Common Share|
RICHMOND, Va.--(BUSINESS WIRE)--Aug. 23, 2018--
Altria Group, Inc. (Altria) (NYSE:MO) today announced that its Board of
Directors voted to increase Altria’s regular quarterly dividend by 14.3%
to $0.80 per common share versus the previous rate of $0.70 per common
share. The quarterly dividend is payable on October 10, 2018, to
shareholders of record as of September 14, 2018. The ex-dividend date is
September 13, 2018.
The new annualized dividend rate is $3.20 per common share, representing
a yield of 5.2% based on Altria’s closing stock price of $61.00 on
August 17, 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 53 times in the past 49 years.
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Source: Altria Group, Inc.
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