Why Long-Term Investors Favor Altria Group (MO) Among Safest High Dividend Stocks

Altria Group, Inc. (NYSE:MO) is included among the 10 Safest High Dividend Stocks to Buy Now.

Altria Group, Inc. (NYSE:MO) is a major tobacco company with well-known brands including Marlboro, Copenhagen, Black & Mild, Skoal, and Parliament, among others. Its stock has outpaced the broader market in 2025, rising nearly 24% compared to the market’s 12.4% increase. While recent price gains have pleased shareholders, the main draw of Altria’s stock over the past decade has been its dividend, which remains a key reason many investors hold it.

Although cigarette sales have declined alongside falling smoking rates among US adults, the addictive nature of tobacco has allowed Altria Group, Inc. (NYSE:MO) to maintain pricing power that supports steady cash flow. Price hikes alone are not a sustainable growth strategy, but they give the company time to develop new revenue sources, such as smokeless and non-tobacco alternatives.

Importantly, Altria Group, Inc. (NYSE:MO) free cash flow is more than sufficient to cover its dividend payments. Due to this, the company has raised its dividends 60 times in the past 56 years, which makes it one of the best dividend stocks on our list. Currently, it pays a quarterly dividend of $1.06 per share and has a dividend yield of 6.53%, as of September 20.

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Disclosure: None.