Altria (NYSE: MO) knows exactly why investors buy its stock: the big, fat dividend. That's why the consumer staples company focuses so hard on raising the dividend every year.

But with the dividend yield at 9.6%, dividend investors should take a very cautious approach to the cigarette maker. That yield is more likely a warning sign of trouble than it is a huge long-term opportunity. 

Over the past decade, Altria's dividend has roughly doubled. So, in hindsight, there was a huge income opportunity here for dividend-focused investors. In fact, the business story a decade ago was actually pretty attractive.

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Source Fool.com