From 24/7 Wall Street:
Some companies are unmatched on the rate at which they pay out their dividends. Former DJIA component Altria Group, Inc. (NYSE: MO) definitely falls into that category, as do many tobacco sector peers. Today came the announcement that it is increasing its quarterly dividend by over 6% to $0.34 per share of common stock per quarter.
What we are curious about is how long through time Altria can keep paying dividend rates of this magnitude.
Calling for the ultimate demise of the tobacco industry has been going by many brokers and financial advisors since the 1980’s that we are aware of. Yet it has never happened. And Altria keeps hiking its payout to shareholders.
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