Altria Group Inc (NYSE:MO) declared a quarterly dividend on Thursday, August 23rd, RTT News reports. Investors of record on Friday, September 14th will be given a dividend of 0.80 per share on Wednesday, October 10th. This represents a $3.20 annualized dividend and a yield of 5.25%. The ex-dividend date is Thursday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.70.

Altria Group has raised its dividend payment by an average of 8.3% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Altria Group has a payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Altria Group to earn $4.38 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 73.1%.

Altria Group stock opened at $60.93 on Friday. Altria Group has a fifty-two week low of $53.91 and a fifty-two week high of $74.38. The stock has a market cap of $114.60 billion, a P/E ratio of 18.03, a PEG ratio of 1.72 and a beta of 0.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.31 and a current ratio of 0.65.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. research analysts anticipate that Altria Group will post 4 earnings per share for the current year.

In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

Altria Group declared that its board has authorized a stock repurchase program on Thursday, May 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Several research analysts recently weighed in on MO shares. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Monday, May 14th. ValuEngine cut shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Monday, May 14th. Jefferies Financial Group set a $70.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Friday, June 1st. Consumer Edge began coverage on shares of Altria Group in a research note on Monday, June 11th. They issued an “equal weight” rating and a $69.31 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of Altria Group from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $71.01.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Dividend History for Altria Group (NYSE:MO)

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