PitchSend

Investor Presentaiton

Capital Allocation 40.20 3.4.18% MOEN Our balance sheet remains strong and our tobacco businesses are highly cash generative. ■ Dividends remain our primary vehicle for returning cash to shareholders and our long-term objective is a dividend target payout ratio of approximately 80% of adjusted diluted EPS. 1001010 ■ Altria's Board of Directors authorized a new $2 billion share repurchase program, which we expect to complete by June 30, 2022. 29 | ALCS | Q4 2020 | 1.28.21 | For Investor Purposes ONLY Altria

View entire presentation