Altria Group, Inc. (NYSE:MO) increased its quarterly dividend to $0.38 per share, or 8.6%, Reuters reports Friday. The boost brings Altria's annualized dividend to $1.52 per share and is the company's second dividend increase this year. SmarTrend is bullish on shares of Altria Group and our subscribers were alerted to buy on July 09, 2010 at $21.32. The stock has risen 5.6% since the alert was issued.

Altria (NYSE:MO)reported Q2 EPS of $0.50, inline with consensus estimates. Revenues in the quarter slipped 5.8% year-over-year to $3.74 billion, missing consensus estimates of $4.35 billion. Altria raises its 2010 full-year guidance for reported diluted EPS from a range of $1.78 to $1.82 to a range of $1.81 to $1.85, reflecting solid first-half business performance, higher projected earnings from operations and net tax benefits from the reversal of tax reserves and associated interest. This forecast includes estimated net charges of $0.06 per share related to asset impairment, exit, integration and implementation costs, UST acquisition-related costs, SABMiller special items and tax items. Altria also raises its 2010 full-year guidance for adjusted diluted EPS from a range of $1.85 to $1.89 to a range of $1.87 to $1.91, representing a forecasted growth rate of 7% to 9% from an adjusted base of $1.75 per share in 2009. For the full year, analysts expected EPS of $1.88. Altria Group, Inc. is a holding company. The Company, through subsidiaries, manufactures and sells cigarettes and other tobacco products, including cigars and pipe tobacco. Altria holds an interest in a brewery company. SmarTrend currently has Altria Group in an Uptrend and is currently monitoring these developments and will alert subscribers to any change of trend.

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