London, Jan 10, 2026, 09:33 GMT — Market closed
Imperial Brands (IMB.L) shares slipped 0.3% to 3,011 pence on Friday following news of another tranche of buybacks as part of its £1.45 billion programme. The London market was closed for the weekend.
The small move still matters since Imperial has made cash returns — buybacks and dividends — a core part of its appeal. Investors are now probing how sustainable that is amid tighter regulation and declining volumes. Back in October, the company announced a £1.45 billion buyback plan for its 2026 financial year.
Imperial’s annual general meeting on Jan. 28 is the next key date, where pay, board elections, and strategy could come under scrutiny. According to the company’s calendar, shares will trade ex-dividend on Feb. 19—buyers after that won’t get the upcoming payout. The final dividend is set for March 31, pending shareholder approval.
Imperial repurchased 194,893 shares on Jan. 9, paying an average of 3,004.20 pence each. The buy prices ranged between 2,987 and 3,023 pence. Morgan Stanley managed the on-market transaction. Imperial plans to cancel these shares, leaving 793,669,680 shares outstanding, excluding treasury stock. The day before, the company also bought back 387,241 shares at an average price of 3,004.18 pence.
A separate director dealings notice revealed that three non-executive directors — Susan Clark, Jonathan Stanton, and Ngozi Edozien — each acquired small stakes in Imperial stock via dividend reinvestment on Jan. 6. The shares were bought at £30.452351 apiece, with transactions involving tens of shares rather than thousands.
The dip unfolded even as the broader market held steady heading into the weekend. The FTSE 100 closed Friday at 10,124.60, marking a 1.74% gain for the week, per a Morningstar data note.
The stock continues to hover around the 3,000p mark. Hargreaves Lansdown reported Friday’s trading range between 2,984p and 3,028p, with the 52-week spread stretching from 2,521p up to 3,329p. Their figures also show Imperial’s price-to-earnings ratio at 9.6, alongside a dividend yield near 5.3%.
But the risk on the downside is clear: policy changes. The UK Tobacco and Vapes Bill aims to ban tobacco sales to anyone born on or after Jan. 1, 2009. Its next step in the House of Lords has no set date yet, simply marked as “date to be announced.” Meanwhile, Parliament’s bill page lists a series of amendments published on Jan. 8. Parliamentary Bills
Investors are focused on the Jan. 28 AGM for clues on changes to capital returns and buyback speed. After that, the Feb. 19 ex-dividend date and the March 31 payment deadline are the next key dates on Imperial’s investor hub schedule.
