Altria’s Board of Directors (Board) voted to increase Altria’s regular quarterly dividend for the 54th time in the past 50 years, the company said.

The Board approved a dividend increase to USD 0.84 per common share versus the previous rate of USD 0.80 per common share. “We are extremely proud of Altria’s fifty-year history of dividend growth,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “Over the past half century, Altria has demonstrated its steadfast commitment to rewarding shareholders despite numerous shifts in the tobacco landscape. Today, we remain focused on our shareholders as we lead the industry through a period of evolution.”
The new annualized dividend rate is USD 3.36 per common share, representing a yield of 7.3 per cent based on Altria’s closing stock price of USD 46.25 on August 21, 2019. The dividend increase reflects Altria’s intention to return a large amount of cash to shareholders consistent with a dividend payout ratio target of approximately 80 per cent of Altria’s adjusted diluted earnings per share, the company said.