Big Oil Is Pumping Cash as If $100 Oil Has Already Arrived
BAT sales jump on vaping, oral nicotine; announces 2 billion stg buyback
LONDON (Reuters) -British American Tobacco on Friday reported a 7% rise in full-year adjusted revenue to 25.7 billion pounds ($34.8 billion), helped by sales of e-cigarettes and oral nicotine. The world’s second-largest tobacco company also announced a dividend increase of 1.0% to 217.8 pence and a 2 billion pound share repurchase programme for 2022. It posted a 51% rise to 2.05 billion pounds in adjusted sales of its “new categories” product line which includes e-cigarettes, heated tobacco and oral nicotine.