Altria Has a New Plan to Unlock Value. It Could Be a Warning Sign for the High-Yield Dividend Stock.
Altria(MO) The Motley Fool·2024-03-18 09:15
Altria (MO -0.93%) hasn't had a lot of good news to report lately, but investors were cheering its latest move on Thursday, which will raise billions in cash.The Marlboro maker said it would sell a significant percentage of its stake in Anheuser-Busch InBev (BUD -0.34%). News of the sales sent the high-yielding dividend stock up 2.2% on Thursday.In a filing, Altria said it plans to sell 35 million shares of Anheuser-Busch through a public offering at $61.50 a share, and in addition, it would sell $200 milli ...