Altria Group Inc. MO, +0.21% said Thursday its board of directors approved a 4.7% dividend increase to 90 cents a share. The quarterly dividend is payable on Oct. 12 to shareholders of record as of Sept. 15. The new annualized dividend rate is $3.60 a share, the maker of tobacco products said. Altria has increased the dividend 56 times in the past 52 years, the company said. Shares of Altria edged higher Thursday and have gained around 19% this year, matching the S&P 500 index SPX, -0.58% performance.
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