Buyback: Imperial Brands said it will buy back up to £550m worth of shares by the end of October
Imperial Brands has started the second phase of its £1.1bn buyback as it tries to sweeten investors.
The tobacco giant behind Lambert & Butler cigarettes said it will buy back up to £550m of shares by the end of October, on top of the £550m it has already completed.
The Bristol-based company first announced the buyback last October following growing demand for vaporizers.
But it comes as the Government is also pressing ahead with plans to introduce a tax on vaping and increase duties on tobacco from October 2026.
Rival British American Tobacco launched a £2bn share buyback program in February 2022 but decided not to renew it last year.
