Why Altria Stock Closed Up Today
Shares of Altria (NYSE: MO) were among the winners today, even as there was no major news out from the Marlboro-maker.
Instead, the tobacco giant seemed to benefit from a broader flight to safety as stocks tumbled for the second day in a row on fears of an extended conflict in Iran. Investors moved into defensive, dividend-paying stocks, and Altria was a winner as the tobacco sector is known for both its recession-proof positioning and high dividend yields. Altria currently offers a dividend yield of 6.6%.
The stock closed up 2.9% on the news.
Source Fool.com
