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In early January 2025, British American Tobacco (BAT) announced significant share repurchases as part of its ongoing buyback program, originally initiated in March 2024. On January 6, the company purchased 105,896 of its ordinary shares at a volume-weighted average price of 2,948.43 pence per share. Similarly, earlier in the week, BAT bought 116,745 shares on January 2 at an average price of 2,935.79 pence per share and another 88,767 shares on December 31 at 2,872.61 pence per share. Following these transactions, BAT plans to cancel the shares, resulting in a remaining total of approximately 2.21 billion shares with voting rights.
Additionally, BAT disclosed that its Chief Executive, Tadeu Marroco, and other executives participated in stock purchases under the Partnership Share Scheme on January 2, 2025. The company also provided an interim review of its block listing returns, noting that approximately 164,953 shares remain available under its Sharesave Scheme as of December 31, 2024. As per the latest update, BAT's issued share capital consists of 2,209,559,098 ordinary shares, of which 133,266,206 shares are held in treasury. These strategic moves highlight BAT's commitment to returning value to shareholders amid ongoing market adjustments.
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