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Altria raises dividend to 6.4% yield amid cash flow concerns and vape unit losses.

Company Fundamentals
04 Sep 2026
24/7 Wall Street
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Neutral
Altria raises dividend to 6.4% yield amid cash flow concerns and vape unit losses.

Altria has increased its quarterly dividend to $1.11 per share, marking the 60th raise in 56 years and yielding about 6.4% based on the current share price. Despite strong dividend coverage from operating cash flow in 2025 and a solid core smokable business, recent quarters show negative operating cash flow and significant impairments in its vape unit, NJOY, raising concerns about sustainability. The company’s adjusted EPS guidance for 2026 still covers the dividend, but declining cigarette volumes and ongoing investments in new products suggest challenges ahead. Investors receive a high yield, but the business faces pressure from shrinking core sales and costly new ventures.

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