Altria raises dividend for 46th consecutive year

Tobacco maker Altria will raise its dividend by 8.7%.

The quarterly dividend will be raised to $0.565 per share, marking 46 years of consecutive dividend increases for Altria.

Actually Altria (MO) has hiked its dividend 49 times in the last 46 years, according to the press release.

The new annual dividend of $2.26 per share translates into an indicated dividend yield of 4.1% at a stock price of $54.72 per share.