HENRICO COUNTY (dpa-AFX) - Altria Group Inc. (MO) said its shareholders elected to a one-year term each of the eleven board nominees; ratified the selection of PricewaterhouseCoopers LLP as Altria's independent registered public accounting firm for the fiscal year ending 2012; approved on an advisory basis the compensation of Altria's named executive officers; and defeated one shareholder proposal at today's Annual Meeting.
Following today's Annual Meeting, Martin Barrington succeeded Michael Szymanczyk as Altria's Chairman and Chief Executive Officer or CEO. Earlier this year, Szymanczyk had announced his decision to retire after 23 years of distinguished service to the Company, including four years as Chairman and CEO of Altria and 12 years as President and CEO of Philip Morris USA Inc.
In his last Annual Meeting as Altria's Chairman and Chief Executive Officer, Michael Szymanczyk updated shareholders on Altria's continuing progress against its corporate Mission, which enables Altria to deliver superior returns to shareholders.
Altria reaffirmed its 2012 full-year guidance for reported earnings per share to be in the range of $2.25 to $2.31. The forecast includes estimated net gains of $0.08 per share, reflecting estimated net gains of $0.10 per share for SABMiller plc (SABMiller) special items, partially offset by asset impairment, exit and implementation costs of $0.02 per share related to the cost reduction program that Altria announced in October 2011.
Altria reaffirmed its 2012 full-year guidance for adjusted earnings per share to be in the range of $2.17 to $2.23. Analysts polled by Thomson Reuters expect the company to report earnings of $2.21 per share for fiscal 2012. Analysts' estimates typically exclude special items.
Altria's Board declared a regular quarterly dividend of $0.41 per common share, payable on July 10, 2012, to shareholders of record as of June 15, 2012. The ex-dividend date is June 13, 2012.
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© 2012 AFX News
