filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Performance Graph
The graph below compares the cumulative total shareholder return of our common stock for the last five years with the cumulative total return for the same period of the S&P 500 Index and the S&P Food, Beverage and Tobacco Industry Group Total Return Index. The graph assumes the investment of $100 in common stock and each of the indices as of the market close on December 31, 2020 and the reinvestment of all dividends on a quarterly basis.
| Date | Altria | S&P Food, Beverage & Tobacco | S&P 500 | |||||||||||||||||
| December 2020 | $ | 100.00 | $ | 100.00 | $ | 100.00 | ||||||||||||||
| December 2021 | $ | 124.26 | $ | 116.18 | $ | 128.71 | ||||||||||||||
| December 2022 | $ | 129.70 | $ | 126.72 | $ | 105.40 | ||||||||||||||
| December 2023 | $ | 125.06 | $ | 121.25 | $ | 133.10 | ||||||||||||||
| December 2024 | $ | 176.17 | $ | 125.52 | $ | 166.40 | ||||||||||||||
| December 2025 | $ | 208.24 | $ | 135.97 | $ | 196.16 |
Source: FactSet - Total return assumes reinvestment of dividends as of the ex-dividend date.
Market and Dividend Information
The principal stock exchange on which our common stock (par value $0.33 1/3 per share) is listed is the New York Stock Exchange under the trading symbol “MO”. At February 13, 2026, there were approximately 44,000 holders of record of our common stock.
We have a history of paying cash dividends, and have a progressive dividend goal targeting mid-single digits dividend per share growth annually through 2028. Future dividend payments remain subject to the discretion of our Board.
Issuer Purchases of Equity Securities During the Quarter Ended December 31, 2025
In January 2025, our Board authorized a $1.0 billion share repurchase program. In October 2025, the Board authorized a $1.0 billion expansion of this program to $2.0 billion, which expires on December 31, 2026 (as expanded, “January 2025 share repurchase program”). Share repurchases depend upon marketplace conditions and other factors, and the program remains subject to the discretion of our Board.
Our share repurchase activity for each of the three months in the period ended December 31, 2025, was as follows:
| Period | Total Number of Shares Purchased (1) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs | ||||||||||||||||||||||
| October 1- October 31, 2025 | 1,796,943 | $ | 61.52 | 1,796,943 | $ | 1,177,389,567 | ||||||||||||||||||||
| November 1- November 30, 2025 | 1,561,299 | $ | 58.26 | 1,560,904 | $ | 1,086,445,148 | ||||||||||||||||||||
| December 1- December 31, 2025 | 1,477,862 | $ | 58.54 | 1,476,775 | $ | 1,000,000,025 | ||||||||||||||||||||
| For the Quarter Ended December 31, 2025 | 4,836,104 | $ | 59.56 | 4,834,622 |
(1) The total number of shares purchased includes (a) shares purchased under the January 2025 share repurchase program and (b) shares withheld by Altria in an amount equal to the statutory withholding taxes for vested stock-based awards previously granted to eligible employees (which totaled 395 in November and 1,087 in December).
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