RICHMOND, Va.--(BUSINESS WIRE)--Aug 23, 2018--Altria Group, Inc. (Altria) (NYSE:MO) today announced that its Board of Directors voted to increase Altria’s regular quarterly dividend by 14.3% to $0.80 per common share versus the previous rate of $0.70 per common share. The quarterly dividend is payable on October 10, 2018, to shareholders of record as of September 14, 2018. The ex-dividend date is September 13, 2018.

The new annualized dividend rate is $3.20 per common share, representing a yield of 5.2% based on Altria’s closing stock price of $61.00 on August 17, 2018.

Today’s dividend increase reflects Altria’s intention to return a large amount of cash to shareholders in the form of dividends and is consistent with Altria’s dividend payout ratio target of approximately 80% of its adjusted diluted earnings per share. Altria has increased its dividend 53 times in the past 49 years.

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CONTACT: Altria Client Services

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804-484-8222

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Altria Client Services

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804-484-8897

KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE RETAIL COMMUNICATIONS PUBLIC RELATIONS/INVESTOR RELATIONS TOBACCO OTHER RETAIL

SOURCE: Altria Group, Inc.

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PUB: 08/23/2018 03:30 PM/DISC: 08/23/2018 03:30 PM

http://www.businesswire.com/news/home/20180823005702/en