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MO Buyback image

Altria Group, Inc. Buyback

OLI recorded this information on 3/19/2024

Company: Altria Group, Inc.
Buyback: MO buyback
$Amount Authorized: $2,400,000,000
Buyback Details: Altria Group, Inc. (Altria) (NYSE:MO) today announces that we entered accelerated share repurchase (ASR) transactions under separate agreements with Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC on March 15, 2024, to repurchase $2.4 billion of our common stock. Under the terms of the ASR agreements, on March 19, 2024, we received an initial share delivery of approximately 85% of the shares to be repurchased, based on the closing price per share of our common stock on March 15, 2024. We expect the remainder of the shares to be delivered no later than the end of the second quarter of 2024. Under certain circumstances specified in the ASR agreements, we may be required to deliver shares or pay cash, at our option, upon settlement of the ASR agreements. The total number of shares ultimately purchased under the ASR agreements will depend upon final settlement and will be based on volume-weighted average prices of our common stock during the terms of the ASR transactions, less a discount. The ASR transactions are part of our expanded $3.4 billion share repurchase program, which we expect to complete by December 31, 2024. Share repurchases depend on marketplace conditions and other factors, and the program remains subject to the discretion of our Board of Directors.

Altria Group is a holding company. Co.'s subsidiaries include: Philip Morris USA Inc., which is engaged in the manufacture and sale of cigarettes in the U.S.; John Middleton Co., which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco; UST LLC, which through its subsidiary, U.S. Smokeless Tobacco Company LLC, is engaged in the manufacture and sale of moist smokeless tobacco products and snus products; and Helix Innovations LLC, which operates in the U.S. and Canada, and Helix Innovations GmbH and its subsidiaries, which operate internationally in the rest-of-world, are engaged in the manufacture and sale of on! oral nicotine pouches.

Altria Group SEC Filing Email Alerts Service

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MO — Key Stats (updated 15 hours, 49 minutes ago)
Company Name:  Altria Group Inc
Stock buyback:  MO buyback
Website:  www.altria.com
Sector:  Cigarettes & Tobacco
Number of ETFs Holding MO:  105
Total Market Value Held by ETFs:  $9.97B
Total Market Capitalization:  $71.86B
% of Market Cap. Held by ETFs:  13.87%
 

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April 19, 2024  •  2:19 AM Eastern
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Hold (2.36 out of 4)
100th percentile
(ranked higher than approx. 100% of all stocks covered)

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