Is Altria a Great Dividend Stock?
2019 has been a tough year for Altria (NYSE: MO), with its $12.8 billion investment in Juul Labs looking like it might go up in smoke. Vaping concerns and other challenges have caused Altria to write down $4.5 billion of its bet on the electronic cigarette manufacturer already. It also saw cigarette volumes fall more steeply than the industry, and its leading Marlboro brand, which accounts for most of its volume, lost more market share.
The culmination of these events has been a stock that has lost a quarter of its value over the past year, even as the S&P 500 has gained over 11% and has recently hit new highs.
But it's not all bad news, and income-seeking investors have good reason to maintain their faith in Altria as a great dividend stock.
Source Fool.com
