Dividend Cuts Latest: Imperial Reduces 2020 Payout

Five-star tobacco firm joins list of dividend cutters, following Shell, BT and many others

James Gard 19 May, 2020 | 11:07AM

Pound symbols

FTSE 100 tobacco giant Imperial Brands (IMB) has become the latest high-yielding company to cut its dividend in response to the coronavirus crisis.

The company is one of the last of the big dividend payers to announce changes to its income policy, following cuts by Shell (RDSB) and a freeze by BT (BT.A) in recent weeks. Alongside half-year results showing a near-20% fall in operating profit, Imperial said it will cut dividends by a third with a view to paying a 137.7p dividend for the full year.

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James Gard  is content editor for Morningstar.co.uk

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