Altria (MO) Extends $3B Credit Line Amid Strong Dividend History

Altria Group, Inc. (NYSE:MO) is one of the defensive stocks that billionaires are buying amid US trade tariff uncertainty. On July 23, Altria Group announced an extension of its $3.0 billion five-year revolving credit agreement, shifting the expiration date from October 2028 to October 2029. The deal, originally signed in October 2023, involves JPMorgan Chase and Citibank as administrative agents. All other terms remain unchanged. Altria continues to maintain a strong financial position, offering a robust 6.83% dividend yield and making payouts for 55 consecutive years. The involved lenders already provide Altria with financial services, including investment banking, trust operations, and cash management. Altria Group, Inc. (NYSE:MO) is a leading American tobacco company known for producing and marketing cigarettes and related products worldwide, while also expanding into innovative nicotine alternatives like electronic vaping devices and oral nicotine pouches as part of its strategy to diversify its portfolio and adapt to shifting consumer preferences. While we acknowledge the potential of MO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Best 52-Week High Stocks to Buy Now and 10 Best Biotech Stocks to Buy According to Billionaire Steve Cohen. Disclosure: None. This article is originally published at Insider Monkey.