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Strategies & Market Trends : Young and Older Folk Portfolio

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Bocor

Menominee

To: chowder who wrote (1608)	10/29/2023 1:20:48 PM
From: chowder	2 Recommendations Read Replies (1) of 21939

I added to ABBV and MO in the Older Folk Portfolio on Friday. Valuentum had this to say following MO's earnings report. >> As it relates to high yield names, Altria Group's (MO) forward estimated ~10% dividend yield may too hard to pass up. The tobacco giant reported third-quarter 2023 results on October 26 that showcased how its asset-light business model continues to generate tons of cash. Traditional free cash flow generation came in at ~$5.9 billion during the first nine months of 2023, while cash dividends paid came in at ~$5 billion, resulting in decent free cash flow coverage of the payout. Though sales momentum at Altria remains weak, gross profit continues to move in the right direction. The firm has raised its dividend 58 times during the past 54 years, and it continues to target mid-single-digit dividend growth annually. << I agree, that 10% dividend yield was too hard to pass up, especially since the Older Folk Portfolio is an income based portfolio. I do not hold MO in portfolios focusing more on capital growth, only income based portfolios.

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