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Imperial Brands starts latest tranche of 'ongoing' share buyback programme

Published 30/10/2024, 08:53
© Reuters Imperial Brands starts latest tranche of 'ongoing' share buyback programme
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Proactive Investors - Imperial Brands PLC (LSE:LON:IMB) has started the ball rolling on the first £625 million of a £1.25 billion share buyback running until 29 October 2025.

FTSE 100-listed, the tobacco and cigarette group said it is part of “an ongoing, multi-year buyback programme that will deliver a material reduction in the capital base over time”.

Imperial added it has a debt ratio target of 2.0-2.5 times net debt to underlying profit [EBITDA] and this buyback is in line with a strategy to distribute any surplus above that to shareholders

Morgan Stanley (NYSE:NYSE:MS) will execute the buyback starting today with an expected end date of no later than 29 April 2025.

Shares were flat at 2,241p.

Read more on Proactive Investors UK

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