|
British American Tobacco PLC on Friday launched another share buyback in a sign of commitment to enhance shareholder value. The London-based cigarette and nicotine product maker said the latest repurchase plan starts next Tuesday and ends on July 29. The Dunhill and Kent maker said the purpose of the programme is to reduce its share capital. Shares repurchased will be cancelled, it added. Back in March 2024, BAT unveiled a £1.60 billion buyback move before extending it by announcing a £1.3 billion repurchase drive in December last year. On Friday, BAT said it sought to buy back up to 217.5 million shares. It said it has entered into an irrevocable, non-discretionary agreement with UBS AG London Branch to purchase its shares during the closed period commencing this coming Tuesday to July 29, the day before the release of its half-year preliminary financial results. BAT has also maintained its progressive dividends. Total dividend improved to 245.04 pence in 2025, up 2.0% from 240.24p in 2024. Early this month, BAT said it was firmly on track to meet its 2026 annual guidance, as growth in the US continued and its New Category business gained momentum. It also indicated that it is closely monitoring developments in the Middle East. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
