Imperial Brands Initiates £1 Billion Stock Buyback Program

Business by 2FIRSTS.ai

Mar.12.2024

Imperial Brands Initiates £1 Billion Stock Buyback Program

Imperial Brands launches second phase of £1 billion buyback plan, aiming to repurchase remaining shares by October.

According to Alliance News, Imperial Brands has initiated the second phase of its £1 billion share buyback program. The company stated that in addition to the £5.5 billion buyback already completed, it will repurchase up to £5.5 billion of shares before the end of October.

In October 2023, Empire Brand Corporation announced its first stock buyback due to the increasing demand for e-cigarettes. However, this decision was made amidst the government's plans to impose taxes on e-cigarettes and increase tobacco taxes starting in October 2026.

Competitor British American Tobacco launched a £2 billion share buyback plan in February 2022, but decided not to continue it last year.

References:

[1] Imperial Brands starts second stage of GBP1 billion buyback

Also Read:

[1] Imperials Brands Stocks Fall Due to UK E-cigarette Tax

[2] Failure of Quebec's E-cigarette Flavor Ban Raises Public Concerns

[3] Controversy Surrounding Ban on Nicotine Flavored Pouches in Canada

[4] Imperial Brand Teams Up with Racing Team for Sponsorship

[5] Imperial Tobacco Invests Billions in Poland's Tarnów-Podgórz Factory

#Imperial Brands #Brands

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

U.S. Lawmakers Seek to Empower HHS to Destroy Counterfeit Chinese Tobacco Products

Bipartisan members of the U.S. Congress have introduced the “Ensuring the Necessary Destruction of Illicit Chinese Tobacco Act” (END Act), seeking to amend the Federal Food, Drug, and Cosmetic Act to authorize the Department of Health and Human Services (HHS) to directly destroy adulterated, misbranded, or counterfeit imported tobacco products.Major tobacco companies, including Altria, along with several public health organizations, have announced their support for the bill.

Nov.11 by 2FIRSTS.ai

France plans to impose new taxes on e-liquids, with the vape industry association warning of unemployment risk

French government proposes tax on e-liquid, sparking concerns over job losses and increased smuggling and underage sales risks.

Oct.16 by 2FIRSTS.ai

Illegal Disposable Vapes Still Sold in Nottingham Six Months After UK Ban: LBC Investigation

According to LBC, a follow-up investigation in Nottingham found that four out of 14 shops visited still sold illegal disposable vapes, six months after the UK Government’s ban took effect. Although fewer retailers appeared to be offering banned products compared with an earlier visit, illegal vapes remain available despite ongoing enforcement efforts.

Dec.03 by 2FIRSTS.ai

iMiracle and VPR Reach Preliminary Settlement in ‘Elf’ Trademark Dispute, Potentially Ending Three-Year Legal Battle

According to Law360, VPR Brands and iMiracle have filed a joint notice in federal court in Florida stating that they have signed a settlement term sheet and plan to finalize a global settlement within 30 days that would resolve multiple lawsuits. The dispute, which began in 2022 and centers on the “Elf” trademark, has involved injunctions, counterclaims and a key ruling by the Federal Circuit overturning a lower court’s order.