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.
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