Discover the Top Dividend Stock for 2024 with a Nearly 10% Yield – Altria Group

In this article, Parkev Tatevosian, a CFA, discusses why he believes Altria Group is a fantastic dividend stock for passive income investors. He highlights the company’s asset-light business model, which leaves plenty of cash to pay dividends.

Altria Group, Inc. is a leading tobacco company that owns popular brands such as Marlboro, Black & Mild, and Copenhagen. The company has a long history of paying dividends to its shareholders, and it currently offers a dividend yield of nearly 10%.

Tatevosian believes that Altria Group is a strong choice for investors looking for a stable and reliable dividend stock. He notes that the company has a strong track record of dividend growth, and he expects this trend to continue in the future.

In addition to its strong dividend yield, Altria Group also offers investors exposure to the tobacco industry, which is a stable and profitable sector. The company has a dominant position in the US tobacco market, and it has a diversified product portfolio that includes cigarettes, smokeless tobacco, and e-vapor products.

Overall, Tatevosian recommends Altria Group as a top dividend stock for 2024. He believes that the company’s strong dividend yield, stable business model, and diversified product portfolio make it an attractive choice for investors looking for passive income.