Investors in Altria Group, Inc. (NYSE:MO) were likely reassured by the company's last earnings report, which showed a double-digit increase in net revenue and profitability. This demonstrates that the company's resistance to a more severe macroeconomic downturn was underestimated.
The company also showed its confidence in its ability to create FCF by launching a new $1 billion stock repurchase program after exhausting its previous $1.8 billion authorization. Regardless, an analyst on a conference call predicted a larger repurchase program.
However, management did remind investors that Altria continues to pay a significant dividend (NTM dividend ...
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Altria Stock: the Gloom Is Over