Altria Group Inc. MO, +0.62% said Thursday its board has approved a 4.3% hike in its quarterly dividend to 98 cents a share. The new dividend will be payable Oct. 10 to shareholders of record as of Sept. 15. The new annualized dividend yield is 9.1%, based on the stock’s closing price of $43.12 on Wednesday. The stock was flat Thursday, but has fallen 5.6% in the year to date, while the S&P 500 SPX, +0.67% has gained 15%.
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