London, March 24, 2026, 16:01 GMT.
- Imperial traded 0.56% higher at 3,036 pence following news of a 561,705-share buyback for cancellation. 1
- Imperial Brands’ most recent buyback came in at roughly £17 million, part of its larger £1.45 billion programme. The company is set to pay its final dividend on March 31. 2
Imperial Brands PLC inched up 0.56% to 3,036 pence Tuesday, following news of fresh buybacks from the tobacco group. The stock traded between 2,999 and 3,042 pence during the session, according to Reuters market data. Over the past year, shares have swung between 2,638 and 3,341 pence. 1
The timing isn’t hard to figure out. Buybacks cut the share count, which can bump up earnings per share—Imperial’s board says that’s exactly why they pull the trigger. This latest backing comes as volatility creeps back into UK stocks; Reuters noted the FTSE 100 hit a three-month low earlier Tuesday, with Middle East flare-ups, oil trading north of $100 a barrel, and renewed rate hike talk all dampening risk appetite. 3
Imperial disclosed in a Tuesday filing that it snapped up 561,705 shares on March 23 via Morgan Stanley, paying an average of 3,020.70 pence each. The deal totaled about £17 million. After settlement and cancellation, ordinary shares outstanding will dip to 782.7 million. 2
The £1.45 billion buyback plan was laid out by Imperial back in October 2025. According to AGM documents, the initial segment—capped at £725 million—wraps up by April 30, 2026. Investors are eyeing April 14 for the company’s next trading update on the financial calendar. 3
The cash-return angle isn’t fresh, but it’s still helping the stock. Back in March 2025, Reuters said Imperial was aiming for 3%-5% annual operating profit growth, plus a yearly buyback through 2030. The group nudged past annual profit forecasts in November and stuck with its 2026 guidance in that same range. Chief executive Lukas Paravicini talked up evolving the “distinctive challenger approach” credited for Imperial’s recent momentum. 4
Analysts haven’t minced words on this one. “Buy the shares before the company can,” Panmure Liberum’s Rae Maile urged after Imperial’s strategy day last year. Hargreaves Lansdown’s Derren Nathan pointed to growth in newer nicotine products, though he noted that traditional tobacco remains the “lion’s share of the business.” 4
Imperial, calling itself the smallest of the four major international tobacco players, is working to keep cigarette profits coming in even as it ramps up with blu vapes, Pulze heated tobacco, and Zone nicotine pouches. The company finds itself up against British American Tobacco and Philip Morris International. BAT flagged in December that U.S. vape market pressures—regulatory hurdles and more competition—were clouding its outlook for 2026. Philip Morris, for its part, warned in February that competitors were starting to eat into Zyn’s momentum, its top-selling pouch. 5
The buyback doesn’t offer immunity. Tobacco companies remain under the shadow of stricter regulation and intensifying competition in smoke-free alternatives. BAT pointed out that as of December, about 70% of the U.S. vape market remained outside regulatory oversight. War-fueled oil spikes and rising rate forecasts could keep UK stocks under pressure—Imperial’s defensive reputation might not be enough to carry it. 6
Another cash event is coming up soon: Imperial’s AGM documents confirm a final dividend of 40.08 pence per share for fiscal 2025, set for payment on March 31. According to Reuters data, the stock is yielding roughly 5.31%. After the payout, the company’s next major event on the calendar is its trading update, scheduled for April 14. 3
