Altria clears spinoff of Philip Morris International

Article Abstract:

The board of US-based Altria Group Inc. has approved splitting Philip Morris USA and Swiss-based Philip Morris International Inc. Altria and Philip Morris USA would then buy back stock during the next two years totaling $20.5 bil. The split will allow Philip Morris International to grow cigarette volume, which rose 2.2% for the year.

Acquisitions & mergers, Financial management, FOOD AND KINDRED PRODUCTS, Mergers, acquisitions and divestments, Food industry, Company acquisition/merger, Switzerland, Company investment, Investments, Investor relations, Philip Morris Inc., Food and beverage production/distribution software, Philip Morris International Inc.

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Altria's profit increases 18% on growth in tobacco business

Article Abstract:

Altria Group Inc. of the United States posted an 18 percent net income increase to $2.29 billion in the fourth quarter. Revenue is up 9.4 percent to $24.49 billion. Positive results are due to a slight increase in international tobacco sales with a slight downturn in food sales.

Company Profile

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Altria suspends share buyback

Article Abstract:

Altria Group Inc. has suspended its stock repurchase plan due to the lowering of its credit ratings. The company also posted a drop of 7.6% in its 2003 first quarter profits.

Finance

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