Altria stock's yield is 7.7%, boasting strong cash flow and a solid balance sheet. The company has raised its dividend for 54 consecutive years.
Altria reaffirms its 2024 EPS guidance, showing a growth rate of 2% to 4.5% from a base of $4.95 in 2023. Revenue slipped 2% yearly, but net income surged 19%.
Altria theory states the company maintains a high dividend to attract investors. The decision to invest in a tobacco company lies with individual investors.
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