Altria Group increases dividend by 8.7 percent to 56.5 cents per share

MarketsAssociated Press

Altria Group Inc. is boosting its quarterly dividend by 8.7 percent.

The increase to 56.5 cents per common share from the prior rate of 52 cents per common share is payable on October 9 shareholders of record as of September 15.

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The Richmond, Virginia-based maker of Marlboro cigarettes, cigars and smokeless products said the dividend increase reflects Altria's intention to return a large amount of cash to shareholders.