The tobacco giant Imperial Brands will abandon next year its objective of a growth of 10% of its dividend to focus on the development of its portfolio "vape" and envisages share buybacks up to 200 million pounds (223 million euros) .
The action of the British tobacco group, which has so far lost more than 17% since the beginning of the year, rose by nearly 3% Monday morning on the London Stock Exchange after these announcements, leading the increases in the FTSE 100 index.
Imperial Brands tries to capture a larger share of the vape market dominated by Juul, including the American Altria has been a shareholder since the end of 2018. Imperial Brands will increase dividend distributions each year through a more gradual policy that will allow it to invest in organic vaping and asset purchases while reducing debt. Having recently celebrated the first anniversary of his blu e-cigarette, the giant believes that his vape products will be one of his main sources of revenue and will increase his profit next year.
source : Lefigaro.fr