Imperial Brands Plans £1.5 Billion Buyback for Fiscal 2027 as FY26 Targets Stay on Track

Imperial Brands announced a £1.5 billion ($2 billion) share buyback program for its fiscal year 2027, alongside a confirmation that the company is on course to meet its full-year guidance for fiscal 2026, which ends in September. The British tobacco group, maker of Winston cigarettes and Rizla rolling papers, cited continued confidence in its performance and cost-cutting efforts as the basis for returning surplus cash to shareholders.

The buyback will be executed in tranches, with an initial £750 million tranche launched immediately. The announcement comes against a backdrop of a roughly 20% decline in Imperial Brands shares so far this year, making the capital return program a direct response to that pressure. At constant currency, the company expects low single-digit tobacco and next-generation product net revenue growth for FY26, with adjusted operating profit growing at a similar rate.