Altria Group, Inc.
Altria Group is the parent company of Philip Morris USA, U.S. Smokeless Tobacco Company, John Middleton, Ste. Michelle Wine Estates and Philip Morris Capital Corporation. Philip Morris USA is the largest tobacco company in the United States, with approximately half of the U.S. cigarette market. U.S. Smokeless Tobacco Company is the leading producer and marketer of moist smokeless tobacco. John Middleton is a leading manufacturer of large machine-made cigars. Ste. Michelle Wine Estates ranks among the top 10 producers of premium wines in the United States. Philip Morris Capital Corporation’s portfolio consists primarily of leveraged and direct finance lease investments. In addition, Altria Group has a 28.5% economic and voting interest in SABMiller plc, one of the world’s largest brewers.
Philip Morris USA
Philip Morris USA (PM USA) is Altria’s domestic cigarette manufacturing company. It manages the production and distribution to wholesalers of Altria’s U.S.-sold cigarette brands sold, including:
- Marlboro-cigarette, which accounts for 80% of PM USA’s total revenues and 41.5% of all cigarettes sold domestically
- Basic, PM USA’s only “discount” brand, which accounts for 8% of the company’s total revenues
- cigs4us.biz/virginia-cigarette, targeted towards women and accounting for 5% of the company’s revenues
- Parliament, which accounts for 3% of the company’s revenues
PM USA also manufactures several other brands, which make up about 3% of total revenue and production.
1985
Philip Morris announces a restructuring, in which Philip Morris Companies (now known as Altria Group), a holding company, becomes the publicly-held parent of Philip Morris.
Philip Morris Companies is listed on the Tokyo Stock Exchange.
Net income tops the $1 billion mark, reaching $1.26 billion.
1986
Spurred by the General Foods business, revenues increase more than 50% to $25.4 billion, while net earnings reach $1.5 billion.
1988
Philip Morris Companies’ revenues reach nearly $32 billion; net earnings top $2.3 billion.
1989
Philip Morris Companies revenues increase 41% to nearly $45 billion; net earnings jump 26% to nearly $3 billion.
1990
Philip Morris Companies’ revenues top the half-century mark, reaching $51 billion; operating companies’ income reaches $3.5 billion.
1992
Philip Morris Companies increases its dividend, the 25th consecutive year owners of MO stock have received a dividend increase.
Operating companies income tops $10 billion.
2002
Miller Brewing Company is merged into South African Breweries to form SABMiller, the world’s second largest beer company, with Philip Morris Companies retaining a 24.9% voting interest and a 36% economic interest in the enlarged group (without giving effect to the contemplated equity placing by SABMiller).
The Board of Directors increases the dividend by 10.3%, marking the 35th time in 33 years that the owners of MO have received a dividend increase.
2003
On January 27, Altria Group becomes the name of the parent company of Kraft Foods, Philip Morris International, Philip Morris USA and Philip Morris Capital Corporation.
Altria Group launches the Altria Code of Conduct for Compliance and Integrity. The Code is the cornerstone of Altria companies’ enterprise-wide Compliance and Integrity initiative.
2004
The Board of Directors increases the dividend by 7.4%, marking the 37th time in 35 years that the owners of MO have received a dividend increase.
2005
Altria Group increased its regular quarterly dividend by 9.6% to $0.80 per common share in August, representing an annualized rate of $3.20 per common share.
Total shareholder return for our stock was 27.7%, exceeding that of the Standard & Poor’s 500 Index.
2006
Altria Group increased its regular quarterly dividend by 7.5%, representing an annualized rate of $3.44 per common share.
Total shareholder return was 19.9%, exceeding that of the Standard & Poor’s 500 Index for the fifth consecutive year.
2007
On January 31, Altria Group’s Board of Directors voted to authorize the spin off of all shares of Kraft Foods, Inc. owned by Altria to Altria’s shareholders.
On March 30, Altria Group distributed approximately 88.9% of Kraft’s outstanding shares owned by Altria to Altria’s shareholders of record as of 5 p.m Eastern Time on March 16, 2007.
On December 11, Altria Group completed the acquisition of John Middleton, Inc., a leading manufacturer of machine-made large cigars, from privately held Bradford Holdings, Inc.
2008
On January 30, Altria Group’s Board of Directors voted to authorize the spin off of 100% of the shares of Philip Morris International Inc. to Altria’s shareholders.
On March 28, Altria Group completed the spin off of 100% of the shares of Philip Morris International to Altria’s shareholders.
On March 28, Michael E. Szymanczyk became Chairman and CEO of Altria Group, Inc. and also Chairman and CEO of Philip Morris USA.
2009
On January 6, 2009 Altria Group completed the acquisition of UST Inc., the holding company whose primary businesses manufacture and market moist smokeless tobacco products through U.S. Smokeless Tobacco Company and premium wines through Ste. Michelle Wine Estates.
