LONDON, Jan 29, 2026, 08:02 GMT — Regular session
- Imperial Brands down about 0.3% in early trade, after closing at 3,028p on Wednesday
- Company disclosed another tranche of share buybacks for cancellation
- Shareholders backed all AGM resolutions, including the final dividend
Imperial Brands shares edged lower in early London trading on Thursday, with the stock last at 3,019 pence. (Investing)
The move keeps focus on a familiar driver for the cigarette maker: cash returns. Buybacks and dividends have become the main talking points for a shareholder base that tends to prize yield and steady capital returns over big swings in growth.
It also lands at an awkward moment on the calendar. The company has just come through its annual meeting, and the next few weeks bring dividend milestones that can pull trading flows around the stock.
Imperial said it bought back 289,199 shares on Wednesday at an average price of 3,014.96 pence, with Morgan Stanley acting as broker, according to an RNS filing. The shares will be cancelled. (Investegate)
A day earlier, Imperial reported a further 195,136 shares repurchased for cancellation, also via Morgan Stanley, at an average price of 3,026.93 pence. (Investegate)
Buybacks shrink the share count over time, which can lift earnings per share even if underlying profit holds steady. They can also help dampen volatility on weaker tape, though the daily purchases are usually small against normal volume.
At its annual general meeting on Wednesday, Imperial said all resolutions were passed, including the declaration of a final dividend, with strong support across most votes. (Investegate)
The company’s buyback programme totals £1.45 billion for its 2026 financial year, which it flagged in an earlier trading update alongside its wider plan to keep returning cash to investors. (Reuters)
Rival British American Tobacco was flat early on Thursday, offering little sector lead for Imperial either way. (Investing.com UK)
But there are obvious ways this can go wrong. Tobacco groups still face steady volume declines, shifting rules on nicotine products, and periodic bouts of litigation and tax risk that can override the comfort of buybacks and dividends.
Next up, Imperial’s shares go ex-dividend on Feb. 19, with the final dividend payment slated for March 31. Investors will also be watching for the company’s half-year results on May 12. (Imperialbrandsplc)
