In what has become an annual ritual spanning over half a century, Altria Group (NYSE: MO) recently declared a dividend raise. 

Investors, particularly those who have a hankering for high-yield dividend stocks, have more than enough time to take advantage of the increase. The question is, though: Is the stock worth buying?

Altria's 2023 edition of its regular quarterly dividend raise is a slightly more than 4% boost to $0.98 per share. This is to be handed out on Oct. 10 to investors of record as of Sept. 15, and the new amount would yield a relatively very rich 8.9%. The raise maintains the company's status as a Dividend King, as it's now enacted hikes for 54 years in a row.

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Source Fool.com