Form 8-K · Current Report · Filed 2024-03-14
Altria Announces $2.4 Billion Share Repurchase Program Expansion
Altria Group, Inc. announced on March 14, 2024, an expansion of its share repurchase program by $2.4 billion in connection with the pricing of an offering by Altria of 35 million shares of Anheuser-Busch InBev SA/NV at $61.50 per ADS, corresponding to $56.17 per ABI ordinary share. The expanded program, expected to be completed by December 31, 2024, will be funded through an estimated $2.4 billion accelerated share repurchase program and is expected to generate cash savings from the elimination of future dividend payments on the repurchased shares. Additionally, Altria raised its 2024 full-year adjusted diluted earnings per share (EPS) guidance to a range of $5.05 to $5.17.
- Filer
- Altria Group, Inc. MO · NYSE
- Filed
- Accession
- 0001193125-24-067555
- CIK
- 0000764180
- Signal
- Low impactConsumer Defensive
- Source
- Official filing on sec.gov ↗
Items reported
Regulation FD Disclosure
Financial Statements and Exhibits
Market reaction
Close before filing
$43.35
Next session
+1.2%
Since filing
+57.6%
Latest close
$68.33
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from MO reporting the same item, with the next session's move:
Exhibits (1)
About Altria Group, Inc.
Altria Group, Inc. is a holding company with a primary focus on the manufacture and sale of cigarettes and related products. Serving as a leading player in the tobacco industry, Altria is best known for its premium cigarette brand, Marlboro, which holds a significant market share in the United States. Beyond cigarettes, the company has established a diversified portfolio by investing in smokeless tobacco products, wine via its subsidiary Ste. Michelle Wine Estates, and a stake in the cannabis market through its investment in Cronos Group. Altria's strategic expansions into non-cigarette categories reflect its aim to navigate changing consumer preferences and regulatory landscapes. As one of the foremost publicly traded entities in its sector, Altria plays a significant role in the broader consumer goods market. The company continues to engage with shifting market dynamics by fostering innovation in reduced-risk products while maintaining its strong presence in traditional tobacco markets.
Never miss another MO filing
Profitelligence watches EDGAR around the clock and alerts you within seconds.