Altria Group Inc (MO)
20 Jan 2017
Latest Key Developments (Source: Significant Developments)
Reynolds Tobacco Co, Lorillard Inc and Altria Group Inc to settle smoking lawsuits for $100 mln - Reuters
Altria Group Inc:Three U.S. tobacco companies - R.J. Reynolds Tobacco Co, Lorillard Inc and Altria Group's Philip Morris USA - will pay $100 mln to settle hundreds of federal lawsuits over smoking, according to an announcement from plaintiffs' lawyers - Reuters.The agreement will cover more than 400 lawsuits filed in federal court in Florida by smokers or their families, according to court filings.Philip Morris and R.J. Reynolds will each pay $42.5 mln and Lorillard will pay $15 mln.It is the first agreement reached by the three companies to resolve a chunk of so-called Engle cases, named after a class action brought by Florida residents over injuries or deaths they said were caused by tobacco-related medical conditions. Full Article
Altria Group Inc:Declares a regular quarterly dividend of $0.52 per common share.Payable on April 10 to shareholders of record as of March 16. Full Article
Altria Group Inc:Reaffirms expectation to deliver FY 2015 adjusted diluted EPS in a range of $2.75 to $2.80.FY 2015 EPS of $2.80 - Thomson Reuters I/B/E/S. Full Article
As tobacco and vaping companies focus on new smoking products that are potentially less harmful, the industry sees an opening for rolling back rules on these products under the Trump administration.