London, March 2, 2026, 09:08 GMT — Regular session
- British American Tobacco hit a new 52-week high during early trading in London.
- The company reported it had bought back another modest round of shares as part of its ongoing buyback program.
- For income investors, the next key date comes in late March: ex-dividend.
British American Tobacco (BATS.L) touched a new 52-week high on Monday, edging up 0.06% to 4,643 pence in early London trading. So far, shares have swung between 4,611 and 4,673 pence. 1
British American Tobacco p.l.c. purchased 93,337 shares on Feb. 27, paying a volume-weighted average price of 4,617.6633 pence, according to the company’s buyback filing. The newly acquired shares will be cancelled, bringing the total number of voting shares outstanding to 2,174,735,544, with 132,976,327 remaining in treasury. 2
Buybacks are hitting just as investors maneuver ahead of this month’s next dividend cut-off. BAT’s shares go ex-dividend March 26, tied to a 61.26p quarterly payout scheduled for May 7. Anyone buying after the ex-dividend date misses out on that payment. 3
The timing here isn’t just background noise—especially in a name like BAT, where cash returns shape the story. Buybacks are running close to all-time highs, and a chunk of investors are counting on that repurchase program to put a floor under the share price.
BAT’s annual results on Feb. 12 put Velo at No. 2 in both volume and value share, and highlighted stronger Vuse numbers as the company leans harder into smokeless products. “I remain committed to delivering sustainable shareholder value through robust cash returns,” chief executive Tadeu Marroco said. 4
The company, meanwhile, pointed to an AI-powered productivity push that’s set to bring job reductions as it streamlines and automates operations. “It will have an impact on the size of the organisation,” interim finance chief Javed Iqbal told reporters. BAT also cautioned that illicit vaping products and stricter regulations in markets like Australia and Bangladesh may continue to weigh on growth. 5
The buyback price lands just under the intraday peak from Monday—BAT remains in the market, picking up stock after the recent climb. Helpful on the down days, though it narrows the cushion if policy shifts or enforcement letdowns hit.
BAT figures unregulated devices now account for roughly 70% of U.S. e-cigarette sales. The company currently has two cases before the U.S. International Trade Commission (ITC), which has the authority to stop imports at the border. A final ITC ruling is expected in March, then comes a 60-day presidential review period. According to Marroco, any significant effect won’t show up until early next year, even if an order comes through. 6
Right now, it boils down to three things: buybacks, the March 26 ex-dividend date, and the U.S. trade decision. BAT shares have hit year-to-date highs. Any shift in direction? Traders won’t hesitate to move the price.
