BAT sets rand dividend terms and tax treatment for South African shareholders

British American Tobacco ( (GB:BATS) ) has shared an announcement.

British American Tobacco confirmed the details of its previously announced interim dividend of 245.04p per share for the 2025 financial year, to be paid in four equal quarterly instalments of 61.26p, with the first payment due on 7 May 2026 to shareholders on the UK and South Africa registers as of 27 March 2026. For investors on the South Africa branch register, the company set the rand equivalent of the May 2026 dividend at 1,371.84419 cents per share using an exchange rate of £1 to R22.3938, and outlined that a 20% South Africa Dividends Tax will generally be withheld, resulting in a net payout of 1,097.47535 cents per share and providing clarity on the tax treatment and timing of cash returns to these shareholders.

The group also disclosed its current share capital structure, reporting 2,173,873,953 ordinary shares in issue excluding treasury shares and 132,976,327 held in treasury, information that may be relevant for yield calculations and capital management analysis. By confirming that the key dividend dates remain unchanged and detailing local currency and tax implications, the announcement gives income-focused investors, particularly those in South Africa, greater visibility over expected cash flows and reinforces BAT’s ongoing commitment to regular shareholder distributions.

The most recent analyst rating on (GB:BATS) stock is a Buy with a £49.00 price target. To see the full list of analyst forecasts on British American Tobacco stock, see the GB:BATS Stock Forecast page.

Spark’s Take on BATS Stock

According to Spark, TipRanks’ AI Analyst, BATS is a Outperform.

The score is driven primarily by solid-but-not-clean financial performance (profitability strength offset by leverage and a notable 2025 cash-flow decline). Valuation is supportive due to the high dividend yield and moderate P/E, while technicals are broadly neutral. Earnings-call guidance and capital-return plans help, but are tempered by vapor/illicit pressures and regional weakness.

To see Spark’s full report on BATS stock, click here.

More about British American Tobacco

British American Tobacco is a global tobacco company that manufactures and markets cigarettes and other nicotine products, reporting its results and declaring dividends in sterling. The group also serves investors via a South Africa branch share register, where dividends are paid in rand and subject to local tax rules, underscoring its significant emerging-market shareholder base.

Average Trading Volume: 4,570,564

Technical Sentiment Signal: Buy

Current Market Cap: £99.1B

For detailed information about BATS stock, go to TipRanks’ Stock Analysis page.