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How did my ownership in Altria change as a result of the Kraft Spin-off?

April 26, 2017altria kraft ownership Spin-Off

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How did my ownership in Altria change as a result of the Kraft Spin-off?

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The number of shares of Altria stock that you own did not change as a result of the Spin-off, but the dollar value of those shares did. On the Distribution Date, Altria’s shareholders received 0.692024 of a share of Kraft stock for each share of Altria stock that they owned. The fair market value of each Altria share, however, was adjusted to reflect the Kraft Spin-off, and hence, the loss of the value of the Kraft stock.