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Finance
Want a Lifetime of Passive Income? Buy Altria Stock in July and Never Sell.
The tobacco giant is still a resilient income investment.
Altria(NYSE: MO), the largest tobacco company in America, might not seem like a reliable long-term investment. It owns Marlboro, the top cigarette brand in the country, but adult smoking rates in the U.S. have steadily declined over the past six decades. It also spun off its higher-growth overseas business as Philip Morris International(NYSE: PM) in 2008.
Yet over the past five years, Altria's stock has still rallied 56% and generated a total return of 129% after reinvesting dividends. It's also raised its dividend 60 times over the past 56 years, making it a Dividend King that has hiked its payout for at least 50 consecutive years.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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