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Imperial Brands ( (GB:IMB) ) has provided an announcement.
Imperial Brands PLC has undertaken a significant share repurchase program, buying back 117,641 ordinary shares at an average price of GBp 2,603.67, as part of its GBP 1.25 billion share repurchase initiative. This transaction, conducted through Morgan Stanley on the London Stock Exchange, results in the cancellation of these shares, reducing the total number of ordinary shares in issue to 834,533,082. This strategic move is expected to enhance shareholder value by decreasing the number of shares outstanding, thus potentially increasing earnings per share and reflecting confidence in the company’s financial stability.
More about Imperial Brands
Imperial Brands PLC operates in the tobacco industry, primarily focusing on the manufacture and sale of tobacco and related products. The company’s market focus involves leveraging its portfolio of brands to maintain its position within the competitive global tobacco market.
YTD Price Performance: 1.92%
Average Trading Volume: 2,576,794
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £21.68B
See more data about IMB stock on TipRanks’ Stock Analysis page.
