Dividend Increase Announcement
On August 25th, Altria Group announced a dividend increase of 4.4%. This will increase their dividend per month from $0.90 to $0.94. It is payable on October 11th for shareholders of record on September 15th. The new monthly dividend represents an annualized dividend amount of $3.76 per share as compared to the current annualized dividend amount of $3.60 per share.
Altria Group Dividend Information
Annual Dividend: $3.76
Dividend Growth History: 52 years
Dividend Yield: 7.76%
Dividend Increase Effect
I am currently holding 52.364 shares of Altria Group stock in the More Dividends portfolio. With this 4.4% increase it will add an additional $8.38 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings my projected annual dividend income to a grand total of $2,008.53.
Current Stock Position
I first started my position in Altria Group back in 2018. It didn’t take long before I built it up to be one of my largest positions in my portfolio. Since that time the company has continued to perform well. Unfortunately though, I grew this position too large too early. So even though the stock is below my cost basis, I don’t think that now is the right time to add to this position.
Lucky for me that the company pays such a high yielding dividend because I intend to hold this position and let if continue to compound over time.
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
Recent Dividend Increases in Portfolio
Bank of America Increases Their Dividend by 5% in 2022
General Mills Increases Their Dividend by 6% in 2022
Wells Fargo Increases Their Dividend, For The Second Time, by 20% in 2022
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