Altria Group Stock Price, News & Analysis

Altria Group, Inc. (NYSE:MO) has irrevocably abandoned its warrant for additional shares in Cronos Group Inc. This decision, made on December 16, 2022, follows the poor trading performance of Cronos shares, which have not exceeded CAD$6.00 in the last year. Altria initially held a 45% interest in Cronos, which could have increased to 52% if the warrant had been exercised. As a result of this abandonment, Altria expects a capital loss of $483 million for its 2022 tax return, while still retaining 156,573,537 shares of Cronos.

Altria Group, Inc. (NYSE: MO) has declared a regular quarterly dividend of $0.94 per share, set for payment on January 10, 2023. Shareholders must be on record by December 22, 2022, with an ex-dividend date of December 21, 2022. This announcement reaffirms Altria's commitment to shareholder returns amid ongoing market conditions.

Altria Group, Inc. (NYSE: MO) announced the appointment of Jacinto “Jase” Hernandez to its Board of Directors effective November 1, 2022. Hernandez brings extensive experience in the tobacco industry as a former partner and investment analyst at Capital Group. His expertise is expected to advance Altria's strategy of 'Moving Beyond Smoking' toward a smoke-free future. W. Leo Kiely III, a long-time director, will retire, marking a transition in leadership. Altria aims to lead the tobacco market responsibly while focusing on innovation and consumer transition.

Altria Group, Inc. (NYSE: MO) announced its Q3 2022 results, reporting net revenues of $6,550 million, a decline of 3.5% year-over-year. The company narrowed its full-year adjusted diluted EPS guidance to $4.81 to $4.89, reflecting a 4.5% to 6% growth from $4.61 in 2021. Altria's share repurchase program saw 8.5 million shares repurchased at an average price of $43.68 in Q3. The company is committed to strengthening its smoke-free portfolio while continuing to provide substantial dividends, totaling approximately $4.9 billion in the first nine months of 2022.

Altria (NYSE:MO) announces a strategic partnership with JT Group to enhance global harm reduction through heated tobacco products. The collaboration includes a joint venture for U.S. marketing and commercialization of heated tobacco stick (HTS) products and an updated pipeline of Altria's own heated tobacco offerings. Altria aims to use this partnership to accelerate the transition of adult smokers away from traditional cigarettes by providing appealing smoke-free alternatives. The JV will see Altria hold a 75% economic interest with a planned investment of $150 million.

Altria (NYSE:MO) has agreed to transfer exclusive U.S. commercialization rights of the IQOS system to Philip Morris International (PMI) for approximately $2.7 billion in cash payments, effective April 30, 2024. The deal includes an immediate $1 billion payment and an additional $1.7 billion by July 2023. This transaction allows Altria to enhance resource allocation towards its 'Moving Beyond Smoking' initiative. Additionally, the company expects the gain to be recorded as deferred on its balance sheet in Q4 2022.

Altria Group (NYSE: MO) will host a live audio webcast on October 27, 2022, at 9:00 a.m. ET to discuss its 2022 third-quarter and nine-months business results. A press release with the business results will be issued at 7:00 a.m. ET. During the event, CEO Billy Gifford and CFO Sal Mancuso will present the results and answer questions from the investment community. The webcast is listen-only, requiring pre-event registration, available at altria.com. An archived webcast will also be accessible after the event.

Altria Group (NYSE: MO) won a jury decision in the U.S. District Court for the Middle District of North Carolina, with damages of $95,233,292 awarded due to patent infringement by Reynolds Vapor's Vuse Alto e-vapor product. Altria successfully argued for a 5.25% royalty rate, which the jury accepted. This ruling reinforces Altria's commitment to protecting its intellectual property as the company transitions towards a smoke-free future, aiming for a significant market shift by 2030.

Altria Group, Inc. (NYSE: MO) has announced a 4.4% increase in its quarterly dividend, raising it to $0.94 per share from $0.90. This dividend will be payable on October 11, 2022 to shareholders of record as of September 15, 2022, with an ex-dividend date of September 14, 2022. The new annualized dividend rate stands at $3.76 per share, yielding 8.2% based on the closing stock price of $45.80 on August 24, 2022. This marks Altria's 57th dividend increase in 53 years.