RICHMOND, Va.--(BUSINESS WIRE)--Aug 22, 2019--

Altria Group, Inc. (Altria) (NYSE: MO) today announced that its Board of Directors (Board) voted to increase Altria’s regular quarterly dividend for the 54 th time in the past 50 years. The Board approved a dividend increase to $0.84 per common share versus the previous rate of $0.80 per common share. The quarterly dividend is payable on October 10, 2019, to shareholders of record as of September 16, 2019. The ex-dividend date is September 13, 2019.

“We are extremely proud of Altria’s fifty-year history of dividend growth,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “Over the past half century, Altria has demonstrated its steadfast commitment to rewarding shareholders despite numerous shifts in the tobacco landscape. Today, we remain focused on our shareholders as we lead the industry through a period of evolution.”

The new annualized dividend rate is $3.36 per common share, representing a yield of 7.3% based on Altria’s closing stock price of $46.25 on August 21, 2019.

Today’s dividend increase reflects Altria’s intention to return a large amount of cash to shareholders consistent with a dividend payout ratio target of approximately 80% of Altria’s adjusted diluted earnings per share.

CONTACT: Altria Client Services

Investor Relations

804-484-8222

or

Altria Client Services

Media Relations

804-484-8897

KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA

INDUSTRY KEYWORD: OTHER RETAIL WINE & SPIRITS RETAIL TOBACCO

SOURCE: Altria Group, Inc.

Copyright Business Wire 2019.

PUB: 08/22/2019 02:30 PM/DISC: 08/22/2019 02:30 PM

Copyright Business Wire 2019.