Altria Group Increases Their Dividend by 2.4% in 2020

Posted by More Dividends in Dividend Increases On August 4, 2020

Dividend Increase Announcement

On July 28th, Altria Group announced a dividend increase of 2.4%. This will increase their dividend per quarter from $0.84 to $0.86. It is payable on October 9th for shareholders of record on September 15th. The new quarterly dividend represents an annualized dividend amount of $3.44 per share as compared to the current annualized dividend amount of $3.36 per share.

Altria Group Dividend Information

Annual Dividend: $3.44
Dividend Yield: 8.17%
Dividend Growth History: 50 years
Payout Ratio: 79.81%

Dividend Increase Effect On More Dividends

I am currently holding 44.109 shares of Altria Group in the More Dividends portfolio. With this 2.4% increase it will add an additional $3.52 to my projected annual dividend income and this doesn’t even take into account the compounding factor!

Conclusion

Altria Group has been in the portfolio for a coupe of years now. I have slowly built it to be one of the largest positions that I hold in the portfolio.

I would love the opportunity to add to this position but until I build up some of my other positions I will leave this position as is. I do not want any position in my portfolio to become to over weighted.

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