OREANDA-NEWS. August 26, 2016. Altria Group, Inc. (Altria
) (NYSE:MO) today announced that its Board of
Directors voted to increase Altria’s regular quarterly dividend by 8.0%
per common share versus the previous rate of \\$0.565
share. The quarterly dividend is payable on October 11, 2016
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.