British American Tobacco Dividends - BATS

British American Tobacco Dividends - BATS

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
British American Tobacco Plc BATS London Ordinary Share GB0002875804 ORD 25P
  Price Change Price Change % Stock Price High Price Low Price Open Price Close Price Last Trade
  42.50 1.44% 2,998.00 3,004.50 2,955.50 2,967.00 2,955.50 16:35:05
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Industry Sector

British American Tobacco BATS Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

muscletrade: British American Tobacco shares approach major level by Richard Hunter from interactive investor | 27th November 2019 10:11 After a quick rally, a thrust above this key price level is hugely significant for BAT shares. British American Tobacco (LSE:BATS) is on course for a significantly better year, after an exceptionally difficult 2018 which saw 49% wiped off its share price. In particular, despite various challenges, the US market is performing strongly. Given that the region is responsible for over 40% of group revenue, success on the other side of the pond is critical to the company’s fortunes. There has been a slowdown in the US vaping market, however, with Presidential comments suggesting that the outright banning of e-cigarettes is rather more than just a possibility. Source: TradingView Past performance is not a guide to future performance This is not to say that BAT will necessarily be directly affected, since its products are generally not those in the firing line of the US authorities, but nonetheless the moves of the regulators is an ongoing warning shot to the tobacco industry in general. Even so, BAT considers these "New Category" products to be essential to its long-term growth, as traditional smoking declines. It has underlined that there has been substantial additional investment in the division, where revenue growth is expected to be at the lower end of a range of 30% to 50%. While New category revenues currently only account for less than 5% of overall revenues, it is clearly an area of strategic focus. More broadly, the group is guiding for overall revenue growth for the year of between 3% and 5%, with adjusted operating profit expected to fall somewhere between an additional 5% and 7%. The company’s ability to generate prodigious amounts of cash is reflected by the fact that, even after dividends, full-year free cash flow is expected to be £1.5 billion. Indeed, one of the clear attractions of the “sin stocks” has been, and continues to be, dividend income and the current yield of 6.8% is comfortably covered. Meanwhile, the inelastic demand which accompanies the nature of the underlying product gives BATs strong pricing power. A blue-chip poised for major rally Can investment trust dividend heroes extend winning streak? Income hunters can find great funds on ii’s Super 60 recommended list of investments The twin concerns which have followed the stock are regulation in general and the company’s own debt pile, the latter of which is within the company’s control and where BATs is showing some signs of focus. The former of the concerns is out of its control, however, and there will inevitably be more regulatory pressure as time goes on. In the meantime, the company is certainly making hay while the sun shines, even though the share price has been under immense pressure. In the year to date (and from a much lower base) the shares have recovered by around 20%, while over the last year there has been an improvement of 10%, as compared to a 5.5% jump for the wider FTSE 100 index. This rollercoaster ride for the share price has strengthened the resolve of the BAT bulls further, where the market consensus of the shares as a ‘strong buy’ is still firmly in place.
muscletrade: Altria And British American Tobacco: Perhaps The Nightmare Is Finally Ending Nov. 22, 2019 2:27 PM ET|54 comments | About: British American Tobacco p.l.c. (BTI), MO Daniel Thurecht Daniel Thurecht Long-term horizon, contrarian, oil & gas, industrials (1,737 followers) Summary The large selloff of Altria and British American Tobacco's share price begun almost two and half years ago following the FDA's proposal to lower nicotine levels in cigarettes. This was further amplified when around twelve months ago they also announced plans to completely ban menthol cigarettes. Recently when they released their list of priority new regulations for the next twelve months, both of these were now absent. At a minimum this provides at least a temporary reprieve, which is itself is still bullish, yet due to the lack of progress there is the possibility these regulations keep getting kicked down the road. Introduction It has been almost two and half years since the current nightmare engulfing the United States tobacco industry began, when on the 28th July 2017 the FDA announced their intention to reduce nicotine levels in cigarettes. Naturally this sent the share prices across the tobacco industry tumbling, with Altria (MO) and British American Tobacco (BTI) being impacted the worst given their highest exposure. The next major event occurred over twelve months later when on the 9th November 2018 the FDA subsequently announced their intention to completely ban menthol cigarettes. When these new risks were combined with other concerns it resulted in their share prices falling approximately 48% for Altria and 57% for British American Tobacco from peak to trough. Even though there still are other concerns remaining, it appears as though perhaps the end of this nightmarish period of time may finally be ending with recent news breaking that the FDA has seemingly delayed both of these plans. The Impact For Altria & British American Tobacco Ultimately the impact for both companies will depend on how long this delay lasts, as neither of the proposed regulations now appears on the FDA’s updated list of planned new regulations within the next twelve months. Nevertheless it should at least help ease the general malaise the market feels across the broader tobacco industry, which was evident with Altria’s share price increasing by a healthy 3.24% whilst British American Tobacco’s increased by 2.82% by the end of the first trading session following this news. Since these risks have been around for a while now, investors will be unlikely to forget them in the short-term and nor should they as the lingering risk remains that in future years the FDA will once again renew their assault on this fronts. Although I am hesitant to stick my neck out regarding unpredictable future government regulations, I believe that there is quite a good possibility these new regulations keep being kicked down the road. This belief primarily stems from almost two and half years having passed since the first nicotine announcement with little tangible progress made before now being taken off the twelve month priority list. Although I was bullish regarding the ability of both companies to mitigate these risks, especially in the case of the proposed menthol ban, it is nonetheless even more bullish if these events never actually transpire. Even if these risks eventually resurface, then the extra time they now have should allow them to be better prepared to help ensure they are able to maintain their cherished dividend payments. Risks Still Unresolved Even if these risks were completely resolved, there are still other concerns weighing down their shares at the moment. The most notable being the weakness in United States cigarette volumes, as consumers continue moving away towards either e-cigarettes or cease smoking completely. Altria’s 6.62% year on year cigarette volume decline in the third quarter of 2019 certainly has not helped, especially since this was assisted by favorable inventory movements and thus otherwise would have fallen by 7.00%. This large decline has not occurred in isolation with years of declines of a similar magnitude occurring recently, as seen in the graph below: Altria Cigarette Volumes Year On Year Change Image Source: Author. The other main risk stems from new regulations targeted towards e-cigarettes, which has been facing an onslaught against them at both the state and federal level following several linked deaths and high levels of underage use. Naturally this is a significantly larger risk for Altria than British American Tobacco following the former’s large investment in Juul (JUUL). Given the current situation it is too early to make a prediction that carries any conviction regarding the ultimate outcome of this risk. Conclusion It seems as though perhaps attacking nicotine, menthol and e-cigarettes simultaneously has proven too taxing for the FDA and given the concerns over underage e-cigarette usage it is not surprising that the other two have been taken off the plate. Although this is undoubtedly a bullish development for the tobacco industry, shareholders would be wise not to completely forget about these risks and thus they should avoid getting too carried away as this could prove only a temporary reprieve.
andrewbaker: and if the BATS share price drops under £28, I'll buy more, even though I am so heavily stacked up on them already.
redbaron10: Life's a gamble.Investing is a gamble.If the IMB share price drops 200p then i will buy more.
andygibb101: This article thinks the share price could bounce: hTtps://
philanderer: MS note: Analysts at Morgan Stanley downgraded industry giant British American Tobacco to 'underweight' on Monday, noting that, in its view, the threat of a "maximum nicotine policy" in the US had not been reflected in the group's share price. Morgan Stanley said making the 'buy' case for British American was "easy", stating the firm represented a "structural growth story" suffering a temporary perception setback and labelled the group as "cheap", "unloved" and offering "a great long-term entry point." However, MS believes the "high impact on future profits" stemming from a potential regulation change Stateside was not "fully understood or appropriately reflected" in BAT's share price. "In our scenario analysis we take a conservative stance on new regulation, assuming regulation to reduce nicotine to non-addictive levels takes until 2035 to come into force. However, even in this scenario we estimate that BAT's US profits could be as much as 50% lower and ~13% of future value at risk to the ma MS also highlighted that prior to acquiring Reynolds, BAT delivered a roughly 20% return on invested capital, generating £3.5bn of free cash flow, but post-acquisition, while the analysts estimate that ROIC had fallen to 7% and leverage had risen to around 4x in 2018, the business was set to generate £7bn of free cash. "This company has consistently delivered 3-5% top-line growth, 5-8% profit growth and 8-12% EPS growth, putting it right in the top tier of the global Staples group, but the stock is on just 8.5x 2020e P/E with an ~11% FCF yield and an ~8% dividend yield." In summary, MS felt the combined risks from regulatory change, disruption/investment requirements, changing consumer behaviour and high leverage gave it more than enough cause to turn "incrementally more bearish". HTTPS://
philanderer: JP Morgan note Based on bottom-up analysis, we still expect US Profit Nicotine profit pool to grow 4% (CAGR18-25) driven by resilient cigarettes profit pool (2% with volume -5%, unchanged). As a result, our MT profit forecast for the tobacco names are unchanged though we raise by c2% FY19 due to FX. We continue to expect companies to miss their MT NGP targets, but see resilient global nicotine profit growth (JPMe +5%) to lead to a re-rating. We see recent share price pressure as overdone and expect the group to rerate in the wake of upcoming catalysts (BATS to reiterate FY target, PMI to see iQOS uptick in EU). We prefer BATS. US profit resilient despite recent negative news. While we now expect a weak H119E, we just slightly reduce our 19E cigarettes volume growth (-4.8% vs -4.4% earlier), but we see revenues +1% due to stronger pricing. We foresee: US cigarettes profit pool resilient with 2% profit growth CAGR18-25. If adult smokers switching rate accelerates (suggested by Altria) this would equate to a 100bps downside risk on cigarettes volume, less than feared by the market.  US NGP dynamics not as disruptive as market believes. Following the FDA activity in Nov-2018, vapor growth decelerated. We forecast 20% volume growth in 2019E (vs +38% in 2018) as the lower underage take-up is offset by adult vapers inflows. US Nielsen tracker confirms BATS share gains while IMB vapor growth turned negative. While iQOS PMTA is positive, we have conservative estimates on heated tobacco in the US given the unattractive economics and the different taste profile of US smokers.
mr_rooster: Not sure pOper but ciuld be this article poniting to divi cut. Tuesday 28 May 2019 11:08am Interactive Investor Talk What is City Talk? Latest Vodafone dividend cut: which UK shares might be next? Share Interactive Investor Talk Contributor Vodafone dividend cut: which UK shares might be next? (Source: iStock) By Tom Bailey from interactive investor. Vodafone's cut might be a canary in the coalmine for FTSE 100 shares. Over the past year the market has increasingly cooled on Vodafone (LSE:VOD). The company has a long list of problems, including the high cost of 5G investment, being squeezed by competition on the continent and high levels of debt. The company's share price fell by roughly 30% between April 2018 and April 2019. As a result, the company's dividend yield shot up to a seemingly generous 9%. Now, however, reality has caught up with the company's payout level. On Wednesday 15 May, Vodafone announce its dividend would be cut by 40%, giving it a new yield of around 6%. According to Simon McGarry, senior equity research analyst, Canaccord Genuity Wealth Management: "The red flags have been there for all to see - the dividend yield was dangerously high, low dividend coverage (ratio of earnings to dividends) and dividend growth had slowed - last year growth was only 2% and in its recent statement, there was no growth at all." The share has consistently featured on our Dividend Danger Zone screen since its creation in 2016. A number of high-profile investors had previously grown concerned about Vodafone's position. Mike Fox, manager of Royal London Sustainable Leaders fund recently told Money Observer that he had sold his stake in the company. Similarly, Robin Geffen, chief executive of Neptune Investment Management, sold out of Vodafone last year. Vodafone, however, isn't likely to be the only major UK company seeing a dividend cut in the coming months. The dividend payouts for a number of FTSE companies currently look perilous. According to Geffen: "Vodafone's announcement should be viewed as a canary in the coalmine moment for UK equity income investors" Geffen fears that many other supposedly "safe" dividend-paying companies are also likely to face a cut, citing falling levels of dividend cover as his key concern. He adds: "We would put the tobacco majors Imperial Brands (LSE:IMB) and British American Tobacco (LSE:BATS), BT Group (LSE:BT.A) and the major utilities stocks in that category." British American Tobacco currently has a dividend cover of 1.35 times, Imperial Brands 0.87 times and BT 1.47 times. As a rule of thumb, shares with a dividend cover score of above 2 are considered reliable dividend payers. Meanwhile, a number of companies on our Dividend Danger Zone screen all have dangerously low dividend covers. The worst offender is Stobart Group (LSE:STOB), with a dividend cover of 0.5 times. That means that half of its dividend is being paid for with borrowing. The infrastructure and support services company already cut its dividend last December, citing a lack of cash. Further cuts, it seems, may still be ahead. Hammerson (LSE:HMSO), the property group, is also on the screen, with a particularly high net debt to EBITDA ratio of 10.9 times. This was one of the reasons it entered our screen in March. At the time, McGarry noted that the company was attempting to sell off assets to cut its debt burden. But, he warned: "Hammerson might struggle to deliver its strategy to dispose of retail parks in a bid to reduce leverage, which is too high at 40%+ loan-to-value." The company's dividend cover is currently 1.1 times. Also on the screen is SSE (LSE:SSE), with a dividend cover of 1.2 times. Similarly, Geffen is bearish on the dividend prospect of the utility sector as a whole, noting his is the only IA UK Equity Income Fund to have 0% exposure to utilities. The sector has an average cover of 1.29 times. This article was originally published in our sister magazine Money Observer.
creditcrunchies: the problem you got here is analysts will be coming out of the woodwork downgrading BATS forcing their share price lower and lower until they switch to a buy recommendation. This is why I was going beserk about the directors of BATS they need to come clean on revenues to gain investor confidence because if they don't analysts will cane this down to £15 before they start saying oversold and buying. Every analyst is going for BATS at the moment because the management of BATS just allow it, the way they talk about BATS is they'll be lucky to still be in business in 10 years time
philanderer: Investors Chronicle: 'Tobacco shares hardest hit in 2018' IC View Investors that have been disappointed by the share price move in tobacco companies this year will be more pleased with their income. Both BATS and Imperial Brands feature in our Income Majors series. In its most recent update, BATS reiterated its commitment to a dividend payout ratio of at least 65 per cent. At 2,768p, the shares are trading at a discount to their five-year historical valuation to the sector, while offering a potential dividend yield of near 8 per cent. Buy Last IC View: Buy, 4,191p, 26 Jul 2018 HTTPS://
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