Among ultra-high-yield dividend stocks of long standing, you don't get much more reliable than Altria Group (NYSE: MO). The company has consistently paid a generous dividend, and its stock is one of the market's rare dividend Kings, meaning its management has enacted dividend raises at least once annually for at least 50 years in a row.

Sure enough, like clockwork, Altria made its habitual once-per-year dividend raise this summer. Here's a look at the particulars of the hike and whether it helps make the cigarette giant's stock worth owning.

In mid-August, Altria declared its latest dividend raise. It decided to lift the quarterly payout by 4% to $1.02 per share, which pumps the forward yield up to 7.7% on the most recent closing stock price. The first distribution of the raised amount will occur on Oct. 10 to investors of record as of Sept. 16. So, there's still time for dedicated income stock fans to take advantage of the hike.

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Source Fool.com