Altria Group Inc. Increases Their Dividend by 5%

Dividend Increase Announcement

On August 23rd, Altria Group announced a dividend increase of 5%. This will increase their dividend per quarter from $0.80 to $0.84. It is payable on October 10th for shareholders of record on Sept. 16th. The new quarterly dividend represents an annualized dividend amount of $3.36 per share as compared to the current annualized dividend amount of $3.20 per share.

Altria Group Dividend Information

Annual Dividend: $3.36
Dividend Yield: 7.21%
Dividend Growth History: 50 years
Payout Ratio: 79%

Dividend Increase Affect On More Dividends

I am currently holding 41.682 shares of Altria Group. With this 5% increase it will add an additional $6.67 to my projected annual dividend income and this doesn’t even take into account the compounding factor!

Conclusion

Altria Group has been the position getting most of my attention lately. Although I didn’t make a recent purchase post about it, if you remember in the July Dividend Update I mentioned that I had added even more to my position. With that recent addition, it has become one of my larger positions. This works great in my favor considering this 5% dividend increase. It is currently a little over 7% of my More Dividends portfolio. So I am not currently looking to add more to this position unless the share price continues dropping even more.

Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉

Do you currently hold any stock in Altria Group? What do you think of this dividend increase? Just let me know in the comments.

As always I look forward to reading all of your comments and questions, until then….. happy investing!

-Jason from MoreDividends.com

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