NEW YORK (TheStreet) -- While the market can seem inconsistent at times, dividends are among the sure things investors can expect from consistent, income-oriented companies. TheStreet's David Peltier said Monday.
By his measures, he expects Altria (MO), which is up 13% for the year to date, to increase its dividend payout in August.
The company has not only paid, but raised its dividend 46 times over the previous 43 years. His rationale is simple: Altria's management has pledged to pay out about 80% of its annual earnings in the form of a dividend. Currently, Altria is paying out about 73% of its earnings.
Due to the lower-than-usual payout, Peltier, who prefers to buy stocks right before management increases the dividend, said he believes the company will raise the dividend in the next 30 days.-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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