Altria Increases Quarterly Dividend by 4.4% to $0.94 Per Share
August 25 2022 - 2:45PM
Business Wire
Altria Group, Inc. (NYSE: MO) today announced that our Board of
Directors voted to increase our regular quarterly dividend by 4.4%
to $0.94 per share versus the previous rate of $0.90 per share. The
quarterly dividend is payable on October 11, 2022 to shareholders
of record as of September 15, 2022. The ex-dividend date is
September 14, 2022.
The new annualized dividend rate is $3.76 per share,
representing a dividend yield of 8.2% based on our closing stock
price of $45.80 on August 24, 2022.
Today’s dividend increase reflects our intention to return a
large amount of cash to shareholders in the form of dividends and
is consistent with our long-term objective of a dividend payout
ratio target of approximately 80% of our adjusted diluted earnings
per share. This increase marks the 57th dividend increase in the
past 53 years.
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