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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Imperial Brands Plc | LSE:IMB | London | Ordinary Share | GB0004544929 | ORD 10P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 16.00 | 0.92% | 1,764.50 | 539,862 | 15:24:41 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1,763.50 | 1,764.50 | 1,765.50 | 1,750.00 | 1,750.50 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Cigarettes | 32.48B | 2.33B | 2.6392 | 6.66 | 15.52B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 15:23:35 | AT | 575 | 1,764.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 18/4/2024 | 17:39 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 17/4/2024 | 17:14 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 16/4/2024 | 17:18 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 15/4/2024 | 17:20 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 12/4/2024 | 17:44 | ALNC |  *Imperial Brands buys back 70,000 shares at average 1,707.94p each on.. |
| 12/4/2024 | 17:39 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 11/4/2024 | 18:04 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 10/4/2024 | 17:26 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 10/4/2024 | 17:08 | UK RNS | Imperial Brands PLC Director/PDMR Shareholding |
| 09/4/2024 | 17:23 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
Imperial Brands (IMB) Share Charts1 Year Imperial Brands Chart |
|
1 Month Imperial Brands Chart |
Intraday Imperial Brands Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/4/2024 | 15:00 | Imperial Brands PLC (formerly Imperial Tobacco) | 8,698 |
| 31/7/2020 | 14:48 | IMPERIAL BRANDS | 2 |
| 26/9/2019 | 08:25 | Imperial Brands Podcast on Trading Update | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 14:23:35 | 1,764.50 | 575 | 10,145.88 | AT |
| 14:23:35 | 1,764.50 | 189 | 3,334.91 | AT |
| 14:23:19 | 1,763.65 | 225 | 3,968.21 | O |
| 14:22:47 | 1,764.00 | 2 | 35.28 | O |
| 14:21:23 | 1,765.00 | 46 | 811.90 | AT |
| Top Posts |
|---|
Posted at 10/4/2024 12:07 by louis brandeis As an owner of the company you have benefitted in the fact that there are less owners in the company going forward who will be entitled to the earnings and cash flows that Imperial Brands make. The underlying net assets per share have also improved although that has less meaning here to IMB as its valuation isn't asset based.Of course the volatility of the market will hide that short term and for it to be of real worth share buybacks have to be at a level where they really do have meaning to the reduction in ordinary share numbers - and not be diluted by placings for executive bonuses - and carried out over some length of time. Just look at the share price performance of Next over the last two decades. Perhaps one of the best examples in the UK of share buyback execution. Shares in issue have reduced by more than 50%. Its share price performance (long term based on earnings per share) is not just the product of sound management in its market, it is also the product of sound financial stewardship. Berkeley group is another one since the financial crisis. Look at their charts. Of course you need the basic good business to be in place first and most importantly or it doesn't work. Companies execute buybacks when they simply can't afford to and in that case it is meaningless. When buybacks are wrongly executed they give buybacks a bad name. That isn't the case here. |
Posted at 18/3/2024 11:03 by louis brandeis In a mature market you don't expect much top line growth. The buybacks ARE essentially the growth. In other words: the pie isn't getting any bigger but the remaining holders' % does. This is why buybacks are so fundamental to mature stocks. Of course as the shares are purchased the INTRINSIC VALUE per share increases. This doesn't automatically mean the share price will rise anytime soon. You may have institutions wanting to get out through ethical reasons: obviously they have to promote the holding to the woke brigade. Or, you might get sellers fearful of a bear trap. Eventually though the share price will rise but even though the price rises a similar level of buyback in monetary terms might buy less shares but could continue to exit a similar percentage from the market cap (less volume out there).If anyone is interested this situation is very similar to Buffett's play on Rockwood. Shares were repurchased in exchange for cocoa bean certificates at a good rate so many shareholders swapped for the certificates but the greatest return was there for remaining holders as the cocoa been inventory left over was more per share than the certificates being offered. If you swap the idea of the cocoa bean certificates there for the current share price here you have a similar situation. Just watch the operating margin as it is only around 12% (BAT around 47%!) and make sure the ROCE doesn't fall off a cliff. |
Posted at 14/3/2024 19:00 by fenners66 Number of shares repurchased: 210,000Date of transaction: 14 March 2024 Average price paid per share: GBp 1,746.929900 Lowest price paid per share: GBp 1,734.000000 Highest price paid per share: GBp 1,765.500000 And the share price fell 15.5p But how can this possibly be ? I have read marktime1231 and they have explained to all of us that the buyback has started and therefore the price has risen. The only explanation of how the price has risen and QED the share price must rise if they are buying back shares. BUT the opposite has happened. What can this mean? It can only mean that marktime1231 .... has it .....wrong. Oh my world has caved in ! I so much wanted to believe the only way was up. And now that belief , that one piece of tangible reality (with evidence ) has been shattered ! |
Posted at 12/3/2024 12:44 by marktime1231 Further evidence about the effect of buybacks from BAT which surprised me a little. Not surprised that they are selling off the limited amount of ITC stock which they are free to divest, but I am surprised that they have committed all the proceeds to a buyback. Those of you fundamentally opposed will no doubt be furious, but somewhat cheered by the share price response.It smacks of desperation by Marroco, trying to stop the rot in BATs share price and respond to IMB / market pressure. But it has done the trick, a 3-4% rise since the rumour was outed yesterday afternoon, I suspect 3% will stick for a while. How is the ITC share price responding, where BAT will retain a 25.5% stake, and how much does this reduce future income / cash flow / profit by? Total proceeds of about £1,700M from a 3.5% ITC stake sale? £700M immediately committed to buybacks and it reads like the remaining £1B next year. Equivalent to about 3% of BAT mkt cap. Which is pee-ing in to the wind compared to IMBs programme. Which leaves BAT looking to free cash flow to continue to pay down debt to its modest target range of 2-2.5x ebitda. Which means it has to direct most of it to debt reduction for another 3 years or so. Not much for real dividend improvement nor for sustainable buybacks unless its finds other family silver to sell off. I remain much happier invested in IMB rather than BAT. |
Posted at 05/3/2024 09:55 by fenners66 Probably - they like all deluded management they will start it again when the share price is much higher - buy high sell low - that's what benefits their mates and paymasters the institutions.So much for enhancing the share price through buybacks - back some time in this thread I did some calcs that showed that paying off the more expensive debt would have delivered more EPS and better future cash flow than the buyback. Couple that with the enterprise value only remaining the same would be a potential increase in the share price. Instead we have more debt , more finance cost and a lower share price ! But happy with their liquidity institutions. |
Posted at 01/3/2024 23:58 by marktime1231 You could argue BAT is in the gutter, share price well below the covid lows, which is why the yield prints so high, things must get better from here. It has again raised the possibility of selling its ITC stake but I haven't yet heard how it is going to overcome the obstacles which have prevented it from doing so before now. If it finds a way that will be well received.It is the sheer quantum of BAT debt which put me off, £40B at the end of 2019, so instead I dived in to IMB where the debt was "only" £12B. Its cost cutting focus and debt reduction strategy has been a winner. I have bought and traded some well including adding in the 1200s during covid. Maybe BAT should have cut its dividend too. I have been well rewarded with gains and (my) yield is 10%. But that was then and this is now, as someone famously used to say. Which has the better financial position, the better share price prospect, the better dividend prospect? Very hard to say. But I personally would not touch BAT because it still has about £35B debt and has to plough surplus cash flow in that direction for n years rather than shareholder returns. Until it finds another way. Whereas IMB is removing another 8% of its stock this year, and probably 5% next year, and maybe after that another 5% all of which is concentrating value and translating into dividend growth. The share price decline over the last year is disappointing, unwarranted response to political announcements while financial performance is sustained. Such is life. |
Posted at 08/2/2024 13:14 by marktime1231 Well I don't see what was particularly exciting in BATs results. The thing which may have caused the share price boost is the announcement that it is looking again how to extract value from its India business ITC where it has a 29% stake which might be worth around $18B. It has been under pressure to sell up and reduce group debt but cited regulatory issues. Perhaps those hurdles are now being overcome.Modest revenue and profit performance, a dividend limping forward. Strong organic debt reduction progress, average interest rate has jumped from 4% to 5.2% (which compares to IMBs at roughly 4.8% in FY23), but still heavily saddled with about £36B borrowings (compared to IMBs approx £9.5B), it cannot commit to better dividend progress or buybacks unlike IMB. Next gen has started to make a tiny profit contribution. A 2% increase in quarterly dividends is below inlation. BAT yields about 9.5% compared to IMBs 8% as things stand, so maybe BAT was due an uplift. Quite why that is hurting IMB share price today who knows. |
Posted at 15/1/2024 10:47 by anhar LLB: ...indeed, if the company buy back 10% of the share capital, you would expect the share price to rise 10%...There is no such direct relationship between BBs and the share price You might expect it but you will be disappointed unless sheer blind luck runs your way. I've been a long term income investor mostly in big caps for decades and have observed many of my shares mounting BBs. It's become an epidemic as they're nearly all at it, but there is no clear effect on prices at all. Some rise, some fall, some go nowhere, same as they do without any BB. I've long concluded from experience that BBs do not affect SPs. It's a naive small investor belief that they do, witness the misplaced joy often voiced around here when a company announces a BB in the false hope that it will drive up the share price Short term share prices overwhelmingly fluctuate randomly. Consequently to try and score a capital gain by betting on a BB cannot be a winning strategy over a number of attempts. |
Posted at 04/11/2023 08:38 by laurence llewelyn binliner 14.11.2023 for the FY results and next 2 dividends, we will see what we get but the progressive policy over at BATS does look a little stronger..However, taking our dividends and the next buyback together, we can expect capital returns to shareholders to exceed GBP2.4BN in the coming fiscal year, representing around 17% of the MCAP, so around 50/50 to come back in dividends and share price appreciation due to shrinking the share capital..? #Cassini, the share price over at BATS has taken a deeper hit compared to IMB, around -10% more so there could be headroom there.. #1Knocker, I picked these up in the early 2020 lows and they are doing just fine cranking out the dividends, the share price gain is nice to look at but is not really material if you are never going to sell the shares, another 7 years and they will owe me nothing.. #Saltaire111, similar strategy, just hold and hoover up the dividends, but I may add some BATS too as they do look like great value at GBP25 and a 9% return.. :o) |
Posted at 24/9/2023 12:08 by fenners66 I did draw attention to New Zealand enacting that anti smoking law about a year ago and citing the possibility of more countries bringing it in (including the UK) as another reason of why the buyback is a waste of money.Sentiment and supply and demand drive share prices - the "if all other things are equal" theory that the share price should rise if there are less shares - is just that a theory - which mostly fails in the real world - because all other things are not equal. IF this legislation is brought in , here and other western economies then I guess the share price will fall, regardless of IMB's ability to generate profits and cash for the foreseeable future. Investment funds like growth - sure they play their games but of all the income stocks in long term declining industries how often do their share prices actually rise? The directors might say its about managing long term decline in share price - I'd say give actual shareholders , not traders looking to get out , their cash as dividends. And stop calling share buybacks shareholder distributions - they are paying for people to be removed as shareholders - if they don't want the shares let the market do that job. |
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