Key Highlights

• Altria's Dividend rises 4.7% to $1.11 per share, trading ex-date and Record Date September 15, 2026, payable October 9, yielding approximately 6.44%.

• The August 27 increase marked Altria's 61st dividend increase in the past 57 years, up from the prior $1.06 quarterly rate.

• Second-quarter adjusted diluted EPS grew 2.8% to $1.48, missing the $1.50 consensus estimate; reported diluted EPS fell 2.8% to $1.37.

• Altria's target Payout Ratio is approximately 80% of adjusted EPS, with management targeting mid-single-digit annual dividend growth through 2028.

Altria's (NYSE:MO) $1.11 quarterly dividend trades ex-date and record date September 15, payable October 9. Adjusted diluted EPS rose 2.8% to $1.48, missing the $1.50 consensus, while domestic cigarette shipment Volume declined 3.2%, or an estimated 4.5% after adjusting for trade inventory movements.

Dividend Program and Shareholder Returns

Altria declared a $1.11 per share quarterly dividend, payable October 9 to shareholders of record and ex-dividend date September 15. The annualized dividend is $4.44 per share, up from $4.24. The increase marked Altria's 61st in 57 years. Management's target payout ratio is approximately 80% of adjusted EPS, with a stated goal of mid-single-digit annual dividend growth through 2028.

About the Company

Altria is one of the largest U.S. tobacco and nicotine companies, with a portfolio spanning Marlboro cigarettes, oral tobacco products and on! nicotine pouches.

Financial Performance Behind the Payout

Altria reported second-quarter net revenues of $6.111 billion, essentially unchanged year over year, with revenues net of excise taxes up 1.2% to $5.356 billion. Reported diluted EPS fell 2.8% to $1.37, driven by higher litigation-related items and unfavorable ABI-related special items, while adjusted diluted EPS rose 2.8% to $1.48, missing the $1.50 Zacks consensus estimate. First-half adjusted EPS climbed 4.9% to $2.80. Domestic cigarette shipment volume declined 3.2%. Adjusted smokeable operating companies income rose 2.4% to $3.02 billion, with Margin expanding 30 basis points to 64.8%. Altria narrowed full-year 2026 adjusted EPS guidance to $5.61-$5.72. On! PLUS nicotine pouches expanded to approximately 120,000 stores nationwide.

Outlook

Second-half cigarette volume trends, on! PLUS's store expansion and flavor rollout, and whether adjusted EPS growth accelerates from this quarter's 2.8% pace toward the mid-single-digit dividend growth target through 2028 are the items management has flagged as relevant.