More from Dividend.com
Referenced Stocks

Altria Group Announces Massive $2 Billion Note Offer; Guidance Adjusted Accordingly (MO)

By Dividend.com,  August 06, 2012, 09:16:36 AM EDT

Tobacco giant Altria Group, Inc. ( MO ) on Monday announced a move aimed at reducing the amount of its debt, which is scheduled to mature in certain future years.

The Richmond, VA-based company is commencing a cash tender offer for up to $2.0 billion aggregate principal amount of its senior unsecured notes. MO hopes the move will reduce the weighted average coupon rate and future interest expense of its consolidated debt.

Accordingly, the company reduced its full-year as-reported earnings estimate to a range of $1.96 to $2.00 per share, down from its prior forecast of $2.29 to $2.33. That reduction was made to account for the one-time charge of 33 cents per share related to the debt restructuring. MO still expects adjusted full-year earnings of $2.19 to $2.23 per share.

Altria shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Altria Group ( MO ) have a 4.57% dividend yield, based on Friday's closing stock price of $35.92. The stock has technical support in the $32 price area. The shares are trading at all-time highs.

Altria Group, Inc. ( MO ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: MO



Latest News Video

Anti-Islamist English Defense League Takes to Streets of Newcastle
Anti-Islamist English Defense Leagu...
Missouri Train Crash Collapses Overpass, Injures 7
Missouri Train Crash Collapses Over...
'Black Widow' Suicide Bomber Attacks Russian Police
'Black Widow' Suicide Bomber Attack...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.24 0.03  0.23%
FB $ 24.32 0.74  2.95%
SIRI $ 3.58 0.04  0.99%
GE $ 23.53 0.13  0.55%
PFE $ 29.04 0.07  0.24%
MSFT $ 34.27 0.12  0.35%
INTC $ 23.93 0.12  0.50%
P $ 16.43 0.73  4.25%