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Altria Group (NYSE:MO), one of the oldest companies in America, also pays out one of the largest dividends. Shares of the tobacco maker yield 8.3% at Monday s prices, which should entice investors looking for stocks that pay out a steady stream of income. However, plenty of smart investors are worried that because of historic headwinds with tobacco use, Altria s dividend is too good to be true.
While many stocks with yields close to 10% can end up being a trap for income-seeking investors, I don t think that will be the case with Altria Group. Here s why.
Image source: Getty Images.
Tobacco is a centuries-old, stable industry