Are you interested in investing in dividend-paying stocks? If so, Altria Group (NYSE: MO) might be a company worth considering. Despite the decline in cigarette smoking over the years, Altria Group has a long history of consistently increasing its dividend payments to shareholders. In fact, the company behind the iconic Marlboro brand has raised its quarterly payout an impressive 58 times in the past 54 years.
In 2023 alone, Altria distributed about $6.8 billion worth of dividend payments, offering investors a quarterly payout of $0.98 per share. With the stock trading at around $42 per share, investors can enjoy a high yield of 9.3%, even without any further payout increases.
One of the factors driving Altria’s ability to continue raising its dividend payout is the upward trend in nicotine consumption in the U.S., in line with population growth. Despite facing challenges such as a decline in cigarette sales and increased competition from illicit e-vapor products, Altria has managed to maintain its financial performance through cost control measures and share repurchases.
Looking ahead, Altria Group typically announces quarterly payout raises in August. While it’s still early to predict the exact amount for 2024, investors can expect the company’s impressive streak of dividend increases to continue.
If you’re considering investing $1,000 in Altria Group, it’s essential to weigh your options carefully. While the company has a solid track record of dividend increases, it’s also crucial to explore other investment opportunities. The Motley Fool Stock Advisor team, for example, recently identified the 10 best stocks for investors to buy now, excluding Altria Group.
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In conclusion, while Altria Group offers an attractive dividend yield and a history of payout increases, it’s essential to explore other investment opportunities to maximize your returns. By leveraging resources like the Motley Fool Stock Advisor, investors can make informed decisions and potentially achieve significant financial gains. Visit Extreme Investor Network to stay informed on the latest investment trends and strategies to enhance your financial portfolio.
