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Article: Altria Board of Directors Announces Intention to Pursue the Spin-Off of Philip Morris International and Increases Regular Quarterly Dividend.
- Article from:
- Business Wire
- Article date:
- August 29, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Regulatory News:
The Board of Directors of Altria Group, Inc. (NYSE: MO) today announced its intention to pursue the spin-off of Philip Morris International Inc. to Altria's shareholders and voted to increase the company's regular quarterly dividend.
The new quarterly dividend of $0.75 per common share is up 8.7% from the previous rate of $0.69 per common share, and represents an annualized rate of $3.00 per common share. The dividend is payable on October 10, 2007 to stockholders of record as of September 14, 2007. The ex-dividend date is September 12, 2007.
Regarding the contemplated spin-off of Philip Morris International, the ...