Altria Group Inc. announced a 4.7% increase in its regular quarterly dividend, raising the payout to $1.11 per share from $1.06. The annualized dividend now stands at $4.44 per share, with a dividend yield of 6.4% based on the company’s closing stock price of $69.12 on Aug. 26.
The dividend increase follows Altria’s stated objective of achieving mid-single-digit annual dividend-per-share growth through 2028. The tobacco manufacturer has raised its dividend 61 times over the past 57 years, maintaining a long-standing policy of returning cash to shareholders.
Shareholders of record as of Sept. 15 will receive the higher dividend, with the payment date set for Oct. 9. The announcement was published on Aug. 27.
