Altria Group shares are trading lower after the company reported mixed Q2 financial results.

Altria, Philip Morris Sign Manufacturing Pact

Altria and Philip Morris International enter a contract manufacturing deal to strengthen operating capabilities.

Altria Group shares are trading higher after the company announced a manufacturing agreement with Philip Morris to improve the efficiency of traditional tobacco product operations.

Philip Morris International Announces Contract Manufacturing Arrangement For Combustible Cigarettes With Altria's Philip Morris USA; First Shipments Expected Early 2027

Should You Buy the 3 Highest-Yielding Dividend King Consumer Staples Stocks?

While Universal, Altria, and Hormel Foods are the three highest-yielding consumer staples Dividend Kings, high yield alone doesn't justify a purchase. Altria and Universal face declining cigarette volumes and concerning fundamentals, making them poor long-term investments despite attractive yields. Hormel Foods, however, shows promise with a turnaround underway, attractive valuation metrics, and organic sales growth, making it the most compelling choice for dividend investors.