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Imperial Brands To Buy Back Over $1 Billion Of Shares In Next 12 Months

MT Newswires ·  {{timeTz}}

02:17 AM EDT, 10/06/2022 (MT Newswires) -- Imperial Brands (IMB.L) plans to repurchase up to 1 billion pounds sterling ($1.13 billion) of shares between Friday and the end of September 2023.

The British tobacco company said Thursday that its total capital returns in fiscal 2023, including ordinary dividends and share buybacks, are expected to surpass 2.3 billion pounds, or about 13% of market capitalization.

The company expects its full-year net revenue and adjusted operating profit to increase by around 1%, on a constant currency basis.

Shares in the company climbed almost 1% on Wednesday's close.

Price (GBP): £1897.00, Change: £+14.50, Percent Change: +0.77%

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