Altria’s 8.6% Forward Dividend Yield Still Makes It Attractive


  • Altria’s ~14% stock price rise YTD is supported by multiple factors like a high dividend yield, increased share buybacks and upgraded earnings outlook.
  • These override any impact the otherwise weak Q1 2024 results might have had, especially as the adjusted earnings were impacted by shrinking revenues.
  • Even though MO’s P/E has inched up this year, price gains are still possible, or at the very least, a price decline is unlikely and its dividend yield is robust.

Cigarettes department at a duty free segment store with many big packs of Marlboro on sale on a shelf in shop airport


Since I last wrote about tobacco company Altria (NYSE:MO) in February, its price is up by 11%. No surprises here. Just going by the company’s market multiples, it was evident even then that a price uptick was possible. This was further

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MO over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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