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Imperial Brands ( (GB:IMB) ) has issued an update.
Imperial Brands PLC announced a share repurchase transaction where it bought back 341,481 ordinary shares at an average price of GBp 2,720.98 as part of its GBP 1.25 billion repurchase programme. This action, which involves the cancellation of the repurchased shares, will reduce the total number of its ordinary shares in issue to 831,122,051. This strategic move is likely to impact shareholder value positively by increasing the earnings per share, while also demonstrating the company’s commitment to returning value to its shareholders.
More about Imperial Brands
Imperial Brands PLC operates within the tobacco industry, primarily focusing on the production and sale of tobacco and associated products. The company is known for its extensive range of cigarettes, cigars, and smokeless tobacco products and maintains a significant market presence internationally.
YTD Price Performance: 8.81%
Average Trading Volume: 2,646,684
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £23.03B
Learn more about IMB stock on TipRanks’ Stock Analysis page.
