The Altria Group, the cigarette and food producer, raised its quarterly dividend by 6 cents (7.5 percent) to 86 cents a share, at a board meeting yesterday.
But the company, which operates Philip Morris USA and Philip Morris International, made no formal comments about an expected spin-off of its Kraft Foods unit, which accounts for 88 per cent of the company. Expectations about this move came after a favourable court ruling in the US, which acknowledged the reduction of legal claims, which followed legal action against US cigarette manufacturers, from US$ 180 billion to US$ 14 billion. (pi)
Share: