Altria Offers Compelling Dividends, Despite Growth Risks

Guido MiethWe previously covered Altria (NYSE:MO) in February 2024, discussing why we had maintained our Buy rating then, with the stock consistently supported at the $40s. At the same time, investors only needed to be patient as the NJOY acquisition was likely to bear results by H2'24. Combined with the robust profitability and the management's sustained share repurchases, we believed that the tobacco company's dividends remained safe throughout the slow but sure transition. Since then, MO has already  ...