Altria Group. Inc., the parent company of cigarette maker Philip Morris USA, is giving all non-executive employees a one-time, $3,000 bonus because of the new corporate tax cut passed in December.
"Our employees drive our success," said Marty J. Barrington, the company’s chairman and CEO, in a statement, reports The Richmond Times-Dispatch. "This bonus is one way we say thank you for everything they do to make Altria a business leader and a leader in our communities."
Altria also plans to set aside another $35 million over three years for its community philanthropic programs, in addition to the $55 million a year the company donates, a company spokeswoman said.
The company's 7,900 non-executive employees are expected to get their bonuses this month, at a cost of $24 million. According to the newspaper, about 3,600 of the employees live in the Richmond area, where the company has its headquarters in Henrico, a cigarette factory in South Richmond, and a research center in downtown Richmond.
The bonuses were announced Thursday, after Atria reported its fourth-quarter and full-year earnings for 2017, posting a profit of $10.2 billion. It also makes smokeless tobacco products and cigars, and owns a wine business.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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