Imperial Brands launches GBP 1.5 billion buyback for Imperial Brands stock

Published on 10/18/2026 at 12:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Imperial Brands expects more than GBP 2.2 billion free cash flow and GBP 320 million savings by 2030. Imperial Brands stock has results due November 17, 2026.

Capital returns and outlook

Imperial Brands announced a GBP 1.5 billion buyback on October 8, 2026.
Fiscal 2026 adjusted operating profit growth is expected within 3.00 to 5.00 percent, with more than GBP 2.2 billion in free cash flow.
Imperial Brands stock was last at EUR 33.99 on October 16, 2026, the Xetra close.

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Imperial Brands (ISIN GB0004544929) announced a GBP 1.5 billion share buyback for fiscal 2027 on October 8, 2026, while reaffirming its fiscal 2026 targets. The company expects adjusted operating profit growth within 3.00 to 5.00 percent and free cash flow above GBP 2.2 billion, according to Imperial Brands.

Buyback adds to capital returns

The new program follows the completed GBP 1.45 billion fiscal 2026 repurchase and is scheduled to run through October 29, 2027. Imperial Brands said the plan reflects confidence in future business performance and supports its progressive dividend policy.

The October 8 update also projected high-single-digit adjusted earnings per share growth for fiscal 2026. Tobacco net revenue is expected to grow in the low single digits, while next-generation product revenue is expected to increase by double digits, with pricing and share gains in the United States and Germany offsetting low-single-digit group volume declines.

What does the buyback change?

Capital returns are already substantial. Imperial Brands said cumulative dividends and buybacks reached nearly GBP 13 billion from fiscal 2021 through fiscal 2026, while issued share capital declined by more than 21 percent since the buyback program began in October 2022. The company also targets at least GBP 320 million in savings by 2030, including a planned GBP 100 million reduction in overhead expenses.

Morningstar wrote on October 13, 2026, that the update eased concerns about share losses and maintained a fair value estimate of GBP 34.00. It also highlighted adjusted operating profit growth of only 0.60 percent in the first half as a measure of the execution challenge.

Three dates define the next phase

On October 8, 2026, Imperial Brands projected adjusted operating profit growth of 3.00 to 5.00 percent; it reported completion of the GBP 1.45 billion repurchase; and it announced the new GBP 1.5 billion buyback. The next reporting date is November 17, 2026, when annual results for the year ended September 30, 2026, are due, while the new repurchase is expected to finish by October 29, 2027, according to the company release.

Stock level and investor context

The last Xetra price was EUR 33.99 on October 16, 2026. The same dated market quote showed a 52-week range of EUR 28.30 to EUR 38.40 and market capitalization of EUR 25.5 billion. Imperial Brands is listed on the London Stock Exchange under ticker IMB and operates in the consumer defensive tobacco industry.

The further course of trading is shown by the continuously updated real-time quote of Imperial Brands stock.