Much change has come to the cigarette industry over the past few years, with the advent of e-cigarettes, Europe moving to ban menthol cigarettes, and the FDA in the U.S. considering a similar move. Add into that mix the continuing decline in smoking rates in the U.S., and tobacco investors are left wondering whether their investments are sound in today's changing climate.

In this video, host Mark Reeth and Motley Fool analyst Mike Finarelli take a look at Altria (MO -0.57%)and why the biggest tobacco company is still a great bet for income investors. Mike discusses the brands under Altria's umbrella and the powerful cash flow that lets the company be extremely shareholder-friendly in terms of capital distributions. Despite this being a difficult industry to grow in for Altria, Mike points to the brand strength that gives the company the pricing power to offset declining volume, and notes that Altria should continue to be a great income holding for a long time to come.