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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: A. Edwards who wrote (6378)	8/27/2003 12:40:47 PM
From: Jim Oravetz	Respond to of 6439

Altria Raises Dividend 6.3% To 68 Cents From 64 Cents DOW JONES NEWSWIRES NEW YORK -- Altria Group Inc. boosted its quarterly dividend 6.3% to 68 cents from 64 cents. A spokesman for the holding company declined to specify the reasons for the increase, citing Altria's policy of not commenting on board deliberations. In a news release Wednesday, Altria, parent of the world's largest cigarette company and the number one U.S. food company, said the new dividend is payable Oct. 9 to shareholders of record as of Sept. 15. Altria's Philip Morris USA and Philip Morris International units make Marlboro cigarettes. Altria is the parent and largest shareholder of Kraft Foods Inc. The annual dividend rate is $2.72. Following Kraft Foods Inc.'s larger-than-anticipated dividend increase Tuesday, Smith Barney tobacco analyst Bonnie Herzog said the move could be a sign that Altria will boost its dividend more than the 3% to 5% the market was expecting. Ms. Herzog projected the Altria dividend increase would be between 5% and 7%. Altria has about 2 billion shares outstanding. In mid-morning New York Stock Exchange composite trading Wednesday, the stock changed hands at $40.44, up 49 cents.