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

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