London, Jan 20, 2026, 08:10 GMT — Regular session
- Shares of British American Tobacco dipped slightly in early London trading.
- The company released a fresh daily update on its share buyback programme.
- Investors are already eyeing the upcoming dividend and the results announcement scheduled for February.
British American Tobacco (BATS.L) shares dipped 0.5% to 4,350 pence by 0810 GMT, slipping slightly from their 4,360 pence open. The stock ended Monday at 4,373 pence and has climbed roughly 47% over the last 12 months. Market data also shows the dividend yield hovers near 5.5%.
The gradual slide seemed driven more by positioning than any company-specific news. Yet, the ongoing stream of buyback announcements keeps focus on cash returns as the next batch of results and guidance updates roll in across UK defensives.
The scene remains unsettled. Global markets dipped after U.S. President Donald Trump revived tariff threats linked to Greenland, pushing investors toward safe havens. Kyle Rodda, senior market analyst at Capital.com, noted some optimism that tensions might prove “self-limiting” if markets respond with a firm message. Reuters
BAT bought 108,254 shares on Jan. 19 from UBS AG London Branch. The volume-weighted average price was 4,363.4439 pence, with trades ranging from 4,316 to 4,375 pence. According to the notice, these shares will be cancelled, leaving 2,177,953,122 ordinary shares with voting rights and 132,988,352 held in treasury.
Tobacco peers made headlines as Imperial Brands (IMB.L) appointed John Rishton as its new chair. This move follows a series of recent leadership shifts at the company behind Winston and Davidoff cigarettes, Reuters reported.
Income investors are already marking their calendars. BAT plans its next quarterly dividend for London and Johannesburg shareholders on Feb. 4, while the ADS payout in New York follows on Feb. 9.
But the safety net only goes so far. Buybacks and dividends won’t help much if regulators clamp down on nicotine products or price hikes fail to offset volume drops in crucial markets. Plus, a surge in bond yields could hit demand for high-yield defensives hard.
For now, traders are eyeing if the broader risk jitters will spread further into European stocks and then hit U.S. markets once trading resumes after Monday’s holiday, a factor that can swiftly shift flows in global staples.
BAT’s next major event is the full-year 2025 earnings release, scheduled for Feb. 12, per the company’s financial calendar.
