Imperial Plans £1.45 Billion Buyback as New CEO Takes Over

Imperial Brands Plc plans a £1.45 billion ($1.9 billion) share buyback and said it is on track to meet its full-year targets.

The British maker of Winston and Davidoff cigarettes said Tuesday the buyback plus dividends will mean a capital return of more than £2.7 billion to shareholders next year. In the past five years, Imperial has paid about £10 billion to shareholders as it implemented a strategy to cut costs and focus on its key tobacco markets of the US, Germany, UK, Spain and Australia.