MO announced Thursday a quarterly dividend increase from 0.48 to 0.52. The dividend is payable October 10, 2014 to shareholders of record as of Sept. 15, 2014.
This is a solid increase of 8.3%. After this raise, Altria Group’s dividend is approaching the 5% mark. Altria Group has raised its dividend 48 times in 45 years!
I love dividend raises! MO is the type of company that can truly make you rich. What’s not to love? A high yield and high dividend growth! Count me in. I’m planning on adding to my position a little before the ex dividend date.
Don’t forget that MO also owns about 28% of SABMiller. At some point, this could be spun off generating additional shareholder value.
Since I own 165.19 shares, this will increase my yearly dividends by $26.43. I’ve had 28 stocks in my portfolio increase their dividend already this year.