High-Yield Altria Stock Rose With the Market in the First Half of 2024, but Don't Get Too Excited for the Rest of the Year [Yahoo! Finance]
Altria Group, Inc. (MO)
Last altria group, inc. earnings: 4/30 07:00 am
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Source: Yahoo! Finance
That is quite possibly what happened with Altria (NYSE: MO) in the first half of 2024, a period in which the stock rose 13%, roughly matching the gain of the broader market. The thing is, Altria's most important business, its deeply troubled cigarettes operation, isn't likely to have seen a material change in direction in the first half. A big yield for a reason Altria's dividend yield is a huge 8.5% today. It was higher than that at the start of 2024, when the stock price was nearly 15% lower. A huge yield is the big attraction for most investors with this stock. Notably, the dividend has been increased regularly so there's a trend here that suggests the dividend is strong. And, in fact, there's no reason to believe the dividend is at risk of a cut in the near term. The problem with Altria is the long term. The tobacco company has been dealing with a massive and ongoing decline in its cigarette production that it really has no way to stop. To put some numbers on that, Altria pr
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News
- Altria's Stock Is Rising Despite the Business's Woes: The Wall Street Paradox. [Yahoo! Finance]Yahoo! Finance
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MO
Earnings
- 7/31/24 - Miss
MO
Sec Filings
- 10/2/24 - Form 4
- 7/31/24 - Form 10-Q
- 7/31/24 - Form 8-K
- MO's page on the SEC website