Altria is just drooling cash…..
Altria Group, Inc. (MO) today announced that its Board of Directors voted to increase the company’s regular quarterly dividend. The new quarterly dividend of $0.32 per common share is up 10.3% from the previous rate of $0.29 per common share, and represents an annualized rate of $1.28 per common share. The quarterly dividend is payable on October 10, 2008 to stockholders of record as of September 15, 2008. The ex-dividend date is September 11, 2008.
At the current $20.90 a share price, that equates to a 6.1% dividend yield….
Disclosure (“none” means no position):Long MO
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