Altria is increasing its share buybackprogram from the original $1 billion to $2.4 billion. This news flash made me quite happy, as I find buybacks to be much better than dividend payments. The dividend here is very nice and $MO stock has been around that $40 mark for the past year. I was buying their stock quite a bit last year, but the sector has faced a few problems lately and I haven't bought in for a while and will only buy in when the stock gets below $40.
Do you have $MOstock in your portfolio?
Interesting news this is, but not enough to buyfor me ,
I also have here, but also as I read others, also less, so one-fifth about against the position in BTI. I'm not buying anywhere at the moment, although the buyout news is nice, but it's too early in my opinion due to just the negative news in this sector so I'm waiting to see how it plays out.
BTI may be more comfortable with buybacks, as there is not as much need to invest in new products in which they already have a very decent position. The $MO if it wants to stay competitive long term will have to come up with something - that costs money.