Dividend Increase Announcement
On August 26th, Altria Group announced a dividend increase of 4.7%. This will increase their dividend per quarter from $0.86 to $0.90. It is payable on October 12th for shareholders of record on September 15th. The new quarterly dividend represents an annualized dividend amount of $3.60 per share as compared to the current annualized dividend amount of $3.44 per share.
Altria Group Dividend Information
Annual Dividend: $3.60
Dividend Yield: 7.38%
Dividend Growth History: 12 years
Payout Ratio: 77.93%
Dividend Increase Effect On More Dividends
I am currently holding 48.66 shares of Altria Group in the More Dividends portfolio. With this 4.7% increase it will add an additional $7.79 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Altria Group is a great company. Despite being the only sin stock that I own, it has continued to pay me well. They have increased their dividend every year that I have held the position. The stock currently has a nice yield at around the 7% range.
This was one of the early positions that I built up rather large but it has proven to be worth it as I continue to see the dividend compound into more shares, year after year. My only regret at this point is that I didn’t build up the position any larger.
Given the opportunity, I would love a chance to add to this position. They have proven to be a solid company and well worth my investment thus far!
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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