British American Tobacco Stock at 52‑Week High: What 2 December 2025 Means for BTI and BATS Investors
British American Tobacco p.l.c. (BAT) is closing out 2025 in far better shape than it started the year. The London-listed shares (LON: BATS) and New York–listed American Depositary Receipts (NYSE: BTI) are trading near 52‑week – and in some cases multi‑year – highs, powered by a combination of hefty dividends, aggressive share buybacks and a gradual improvement in underlying earnings. Trading Economics+1 At the same time, the investment case is more nuanced than a simple “yield play”. Regulatory risk, the long shadow of litigation and questions over how much growth is really left in tobacco are all back on the