Altria Increases Quarterly Dividend by 8.0% to $0.61 per Common Share
August 25 2016 - 3:00PM
Business Wire
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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