Reynolds American announced today that the company is increasing their dividend payout target from 75% to 80% of net income.
Today’s dividend announcement will make Reynolds American the highest yielding tobacco stock.
The cigarette maker just announced their second dividend increase this year.
Earlier this month, Mad Money host Jim Cramer unveiled his recommendations to investors for a diversified portfolio of dividend stocks.
Lost in the myriad of stories hitting the markets last week were several key dividend announcements.
Altria Group announced Thursday that its Board of Directors has approved a 6% increase in their quarterly dividend to $.34 per share.