Altria remains a profit machine, but its growth has stalled. Verizon is a top-yielding stock, and the telecom industry is showing signs of stabilizing.
In the most recent trading session, Altria (MO) closed at $44.80, indicating a +0.22% shift from the previous trading day.
Dividend growth stocks can provide reliable cash flows and drive long-term wealth for income investors. Every month we screen for dividend stocks based on safety, growth, and consistency metrics to help identify worthwhile investments. This month we have five familiar names, but one utility name we haven't touched on in over two years now, which appears to be an attractive consideration.
Diversified investors have not been rewarded so far in 2024 as the tech-heavy SPX has outperformed value strategies and the total return of defensive sectors. But Altria presents solid fundamentals with high free cash flow, steady EPS growth, and an attractive dividend yield. Altria's technical view has improved with resistance at $47-$49, support at 200-day moving average following a break of a multi-year downtrend.
Smoking causes cardiovascular diseases, even with minimal cigarette consumption. Nonetheless, its production has played a major role in America's history. Since 2005 Altria's stock performance has outperformed the S&P 500 but has stagnated since 2017. Altria's strategic shift towards e-vapor products and strong dividends make it a compelling option for income-focused investors.
A pair of companies that have been paying dividends for decades offer yields above 6% at recent prices. AT&T's telephone business is down, but its broadband internet services keep offsetting the losses.
On 6/14/24, Coca-Cola, Altria Group, and Meta Platforms will all trade ex-dividend for their respective upcoming dividends. Coca-Cola will pay its quarterly dividend of $0.485 on 7/1/24, Altria Group will pay its quarterly dividend of $0.98 on 7/10/24, and Meta Platforms will pay its quarterly dividend of $0.50 on 6/26/24.
Altria (MO) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Altria spent years unwinding a high valuation that imploded with its Juul investment. The dividend remains the crown jewel.
The jury is still out on the safety of the chemical additives that go into the popular devices.
Altria currently offers an 8.4% dividend yield. The company is struggling against significant headwinds for cigarette sales.
Walgreens Boots Alliance cut its dividend earlier this year, but even with the new payout, its yield remains high. Altria faces a challenging road ahead as tobacco use declines, but the company's dividend still looks safe right now.