Altria offers a 6.4% dividend yield, making it stand out among major US companies. It has been designated as a Dividend King due to raising dividends 55 times and paying $32 billion from 2020 to 2024. The company recently reported a 6% drop in revenue, but an increase in adjusted EPS to $1.23. Despite challenges, cigarette demand tends to hold during economic downturns, adding appeal for investors. Altria's strong balance sheet supports confidence in its dividend amidst a turbulent stock market.
Altria has a yield of 6.4%, making it one of the highest among major US companies, alongside Dow and Pfizer. However, Pfizer's stock is down 8% this year and Dow's has plummeted by 47%, with a recent dividend cut.
Altria qualifies as a Dividend King, having raised its dividend 55 times and payout $32 billion in dividends between 2020-2024, while also repurchasing $8 billion of its shares.
Despite a 6% revenue decline to $5.3 billion this quarter, Altria's adjusted diluted EPS rose 6% to $1.23, indicating strong performance from its traditional tobacco business.
In challenging economic times, cigarette consumption typically remains stable, leading investors to believe that Altria’s dividend is secure, supported by its robust balance sheet.
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