Dividend Increase: Altria (MO)

8/21/2015  Altria (MO) announced an increase in their quarterly dividend of 8.7% to the new amount of $0.565 payable Oct 9 to shareholders of record Sept 15.  One year ago, MO increased their quarterly dividend to $0.52 per share.  The announcement of the increase was expected, however was a nice surprise of $0.015 higher than I projected.  MO maintains their shareholder friendly policy of an 80% payout ratio.  Earnings for the last four quarters have come in at the higher end of analyst expectations, with the most recent fiscal Q2 showing an earnings beat.  YOY earnings growth remains solid and I would expected for calendar year 2016 MO to announce an expected dividend increase of approximately $0.04 bringing their October 2016 dividend payment to $0.605.  Todays announcement represents 49 dividend increases in the past 46 years, putting it in exclusive company as a dividend aristocrat and continues to be one of the best run companies there can be.  Now that is BAMF Money.

Today’s announcement is a small ray of light in what is ultimately a shit day in the markets.

MO Dividend History

(dividend payment history on their site is not adjusted to reflect the spinoff of Kraft or PM)

Look for an increase from PM in the upcoming weeks.  Current quarterly dividend is $1.00, looking for a bump up to $1.05.

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