The tobacco giant Imperial Brands will abandon its objective of 10% dividend growth next year to focus on developing its “vape” portfolio and is considering share buybacks up to 200 million pounds (223 million euros) .
INVESTING AND DEVELOPING IN THE VAPE, A PRIORITY FOR IMPERIAL BRANDS!
The action of the British tobacco group, which has so far lost more than 17% since the start of the year, rose nearly 3% Monday morning on the London Stock Exchange after these announcements, at the top of the increases in the FTSE index 100.
Imperial Brands tries to capture a larger share of the vape market dominated by Juul, including the American Altria has been a shareholder since the end of 2018. Imperial Brands will increase its dividend distributions each year but through a more progressive policy that will allow it to invest to develop in vaping through organic growth and asset buybacks while reducing its debt. Having recently celebrated the first anniversary of its blu e-cigarette, the giant believes that its vaping products will be one of its main sources of income and will increase its profit next year.
Source : Lefigaro.fr
