Altria Group
| Altria Group, Inc | |
|---|---|
| Type | Public |
| Founded | |
| Headquarters | New York City, USA |
| Key people | Louis Camilleri, CEO & Chairman Dinyar Devitre, CFO |
| Industry | Tobacco |
| Products | See below |
| Revenue | ▲$101.407 billion USD (2006) [1] |
| Net income | ▲$12.022 billion USD (2006) [2] |
| Employees | 199,000 |
| Website | www.altria.com |
Altria Group, Inc. (NYSE: MO) (previously named Philip Morris Companies Inc.), based in New York City, is the parent company of Philip Morris USA, John Middleton, Inc. and Philip Morris Capital Corporation, and is one of the world's largest tobacco corporations. In addition, Altria Group, Inc. has a 28.7% economic and voting interest in one of the world's largest brewing companies, UK based SABMiller plc. It is a component of the S&P 500, and was a component of the Dow Jones Industrial Average until February 19, 2008.
On January 27, 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc. On March 30, 2007, a spin out of Kraft Foods subsidiary (publicly traded since 2001) was concluded through distribution of the remaining stake of shares (88.1%) to Altria shareholders. As a result, Altria no longer holds any interest in Kraft Foods. On March 28, 2008 a similar spin out of Philip Morris International was completed with 100% of shares being distributed to Altria shareholders.
Summary Provided Under GNU Free Documentation LicenseLive From The Blogosphere!
Altria Group appears to be the best opportunity right now for investors of the entire Global Tobacco Index with a dividend yield of nearly 8% (increased by 10% last quarter to 32 cents per share every three months), a strong U.S. Dollar ...
The cigarette maker pays the price for issuing debt in a tough market. Meanwhile, Wells Fargo raises more capital, and restructures its Wachovia deal for tax purposes.
Just as the price of cigarettes has been rising, so too is the cost of financing a merger. That is why companies not as strong as Altria might beware: attempting to replicate Altria's successful sale of $6 billion of debt to pay for its ...
Altria announced in September that it would acquire Stamford, Conn.-based UST Inc., the nation's top manufacturer of moist smokeless tobacco. That deal has not closed, but Altria executives have said they plan to use the acquisition to ...
when Altria reported results last month, it said the volume of Philip Morris USA's cigarette shipments fell 4.8 percent during the quarter from a year ago. Chief Executive Michael Szymanczyk said then that "because of the economic ...
Altria said in August 2007 that it would cut as many as 400 positions when it moved its headquarters out of New York and spun off Philip Morris International in March of this year. The cuts were designed to save $250 million annually. ...
Altria said in August 2007 that it would cut 400 positions when it moved its headquarters out of New York as it spun off Philip Morris International. The latest cuts are in addition to those. ...
Altria Group, famous for their nicotine, announced cutting an unspecified number of jobs to get ahead of the curve on the economic doldrums forthcoming. Since no numbers or notices have been giving, you can imagine an uptight employment ...
Altria's sale is almost equal to the $6.7 billion of issuance in all of last week, according to Bloomberg data. The largest U.S. tobacco maker sold the debt in three-parts as yields over benchmark rates on corporate bonds fell for a ...
NEW YORK (AP) - Altria Group has started to cut jobs to alleviate the risk from the widespread economic turmoil. A spokesman declined to say how many cuts would be made. Richmond, Va.-based Altria owns Marlboro-maker Philip Morris USA. ...
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