Altria: A Buy After The Correction

Altria remains a buy, offering a 6.3% yield and a 60-year streak of dividend increases, with another hike expected August 27. MO's payout ratio has fallen to 89%, supporting sustainable, inflation-matching dividend growth, though limited room exists for extraordinary increases. Despite declining cigarette volumes and regulatory risks, MO offsets headwinds with price increases and potential growth in reduced-risk products.