Income-seeking investors are currently experiencing the fear as the tobacco industry is currently declining. But Altria Group Inc. [NYSE: MO] has shut down all the rumors and become an attractive stock for the income-seeking investors after it has shared the 2020 full year report last week.

US-based Tobacco firm has reported the 2020 Q2 and full-year business results on January 28, 2021. The firm has also disclosed that its Board of Directors has approved the share repurchase program. Altria has reported an excellent result of 2020 which makes it an interesting stock for the investors.

MO has reported that its total revenue for the year 2020 has remained $26.1 billion which signifies an increase of 4.2% from 2019. Its Adjusted diluted EPS stood at $4.36 which demonstrates an increase of 3.6% from the year 2019. MO’s reported diluted EPS of $2.40. The current annualized dividend rate is $3.44 per share, indicating a dividend yield of 8.2% as of January 25, 2021.

Shares of Altria Group Inc. [NYSE: MO] plunged 0.14% at $42.47 during the trading session of Friday. The firm has reported a trading volume of 6.07 million as compared to its average volume of 9.35 million. Looking at its 52-week low and high range, the firm’s share has shifted between the low range of $30.95 and a high range of $47.14. This firm has a total market capitalization of $81.94 billion at the time of writing.

The smokeable business of Altria is the main catalyst that increases the growth of the firm. Its revenue for that segment stood higher 5% to $23.1 billion in 2020, at the same time the profits remained higher 10.8% to $10 billion. Marlboro is the main driver of this segment. The strategy which has increased the EPS of the firm is its pricing strategy.

The company is involved in various other initiatives that aid the firm in mitigating the loss from its cigarette business. Those initiatives include its investment in Cronos Group and JUUL. The tobacco business is currently moving towards its decline but Atrio results have demonstrated that its business is increasing.