Now Could Be the Time to Lock in This 7.9% Dividend Yield
Tobacco giant Altria Group (NYSE: MO) recently reported full-year 2022 earnings that gave the stock's share price a jolt. Altria has been a troubled stock in recent years -- its highly public investment in Juul Labs wasted billions in capital, and worries have persisted about how inflation might impact its customers' spending habits.
However, fourth-quarter results answered some of these questions profoundly, and now investors are looking at a stock paying a dividend yielding almost 8%. The stock's conservative valuation could mean there's room to run if sentiment has finally turned positive. Here's why you should consider locking in this huge dividend before it's too late.
Altria's earnings showed that its core tobacco business is running like clockwork. Adjusted earnings per share (EPS) rose 8.3% year over year in the fourth quarter and 5.0% for the full year. This growth came despite Altria shipping nearly 10% fewer smokeable products in 2022 than in 2021. How is this possible?
Source Fool.com
