|Bid||40.54 x 1100|
|Ask||40.55 x 1100|
|Day's Range||40.35 - 41.49|
|52 Week Range||40.35 - 57.05|
|Beta (5Y Monthly)||0.62|
|PE Ratio (TTM)||41.22|
|Earnings Date||Oct 27, 2022|
|Forward Dividend & Yield||3.76 (9.02%)|
|Ex-Dividend Date||Sep 14, 2022|
|1y Target Est||48.83|
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Altria Group Inc. said Friday it has taken a step that extricates it from its noncompete arrangement with vaping company Juul Labs Inc., freeing both companies to pursue their own strategies.
Altria Group said it is preparing to end its noncompete agreement with Juul Labs, giving Juul’s largest shareholder the flexibility to acquire another e-cigarette brand or develop its own new vaping products.
Altria on Friday said it’s looking to end its noncompete agreement with Juul, the e-cigarette maker in which it owns a stake. Altria (ticker: MO), which invested in Juul about four years ago, said in a 8-K filing to the Securities and Exchange Commission that it has exercised its option to permanently terminate its non-competition obligations to JUUL, losing the right to the board designation and significantly reducing its voting power. Altria decision “maximizes our flexibility to compete in the e-vapor space while maintaining our economic interest in Juul” it said in a statement to The Wall Street Journal.