British American Tobacco p.l.c. announced its interim dividend for the year ended December 31, 2025, payable in four quarterly instalments. The first payment, the May Dividend, of 61.26p ($0.81) per ordinary share, will be paid on May 7 to shareholders on the U.K. main register and the South Africa branch register as of March 27. For South African branch shareholders, the dividend is payable in rand at a rate of £1 = R22.3938, resulting in a gross dividend of 1,371.84 SA cents per share, with 20% dividends tax withheld, leaving a net payment of 1,097.48 SA cents per share. The dividend is considered a foreign dividend for South African tax purposes, sourced from the U.K.
Category: Business & Finance
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Ispire Says FDA Guidance Opens $50B Door
Ispire Technology Inc. says it is positioning itself to capture a multi-billion-dollar opportunity in the U.S. vaping market following the FDA’s newly issued draft guidance on flavored ENDS Premarket Tobacco Product Applications. The guidance, which formally recognized device-level age verification — or Device Access Restrictions (DAR) — as a key factor in determining whether a product meets the “appropriate for the protection of public health” standard, creates a lawful pathway for flavored products that have largely been sold illicitly.
Ispire said its 40%-owned joint venture, IKE Tech LLC, is uniquely positioned to provide the age-gating and product authentication infrastructure required for compliance, leveraging its blockchain-secured, biometric, and Bluetooth-enabled technology platform that has been validated to prevent underage access while supporting adult consumer use.
Ispire said the recognition of DAR technologies by the FDA opens a total addressable market estimated at $50 billion, largely comprised of illicit and unauthorized flavored ENDS products. IKE Tech’s SaaS-based compliance model, which Ispire estimates can generate $5 million to $20 million in annual recurring revenue per manufacturer customer, positions the company to capture significant enterprise value even with a limited number of clients. Beyond age verification, the platform also addresses counterfeiting and illicit trade, providing traceability and authentication across the supply chain.
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JTI Korea Rebrands Ploom Tobacco Sticks as EVO
JTI Korea rebranded its heated tobacco sticks for the Ploom device, transitioning from “MEVIUS for Ploom” to the new EVO line, effective today (March 10). The name EVO, short for “evolution,” reflects the brand’s aim to “modernize and enhance the user experience.” The sticks use “CleanSeal technology to prevent tobacco residue and ActivBlend technology to deliver richer flavor with Ploom’s Heatflow system.”
The EVO lineup features eight variants, mostly mirroring the previous MEVIUS portfolio, and retail pricing remains at 4,500 won ($3) per pack, available in Seoul and select areas of Gyeonggi Province. JTI Korea emphasized that EVO is a premium, Ploom-exclusive brand that builds on the company’s heritage while continuing to deliver evolving experiences through proprietary technologies.
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BAT Publishes AGM 2026 Notice
Today (March 10), British American Tobacco published its Notice of Annual General Meeting 2026 and related documents on its website ahead of the AGM scheduled for April 15. Shareholders can access the 2025 Combined Annual and Sustainability Report, performance summaries, AGM Notice, and proxy forms online.
For South African shareholders, the last day to trade is April 7, with the Record Date set for April 10. All documents are also available via the UK National Storage Mechanism in compliance with listing rules.
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Haypp Launches Caffeine Pouches
Haypp Group expanded its product lineup with the launch of caffeine pouches across its online retail platforms, adding a new category to its nicotine-free offerings. The company said the products — available across its websites in the U.K. and Scandinavian markets — are designed to provide consumers with a discreet, portable way to manage caffeine intake without drinks or preparation, with a range of strengths and flavors.
Haypp said the move reflects growing demand for functional wellness and on-the-go products, particularly among professionals and fitness-focused consumers seeking convenient alternatives to coffee or energy drinks. The retailer expects the addition to strengthen its position in the expanding oral pouch segment and plans to promote the launch through a U.K. tour featuring a mobile sampling truck.
On Jan. 1, Haypp exited the UK’s vape and heated tobacco markets to focus exclusively on oral pouches.
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Illicit Cigarettes Threaten Malaysia’s Micro-Businesses
The Malaysian Micro Businesses Association (MAMBA) highlighted the growing impact of illicit cigarette sales on local small enterprises, following NielsenIQ’s Illicit Cigarettes Study 2025. The study found that illegal cigarettes now account for 54.4% of total cigarette consumption, creating steep competition for micro businesses such as sundry shops, coffee shops, and neighborhood kiosks.
With legal cigarettes costing RM18.40 ($4.60) and illicit ones as low as RM3 ($0.75), MAMBA Secretary-General Alvin Low said the wide price gap encourages consumers to bypass legitimate retailers, undermining micro-enterprises that comply with licensing, taxation, and health regulations. He stressed that this distorted market threatens the broader micro-business ecosystem, which comprises 97.4% of Malaysian businesses, and called for a balanced approach combining enforcement with measures to stabilize the legal market.
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Reynolds Pledges $3.2B to U.S. Manufacturing by 2030
Today (March 5), Reynolds American announced the launch of its “Growing Tomorrow” campaign, a commitment to invest more than $3.2 billion in its U.S. operations by 2030 in order to strengthen American manufacturing, support jobs, and expand its multicategory nicotine portfolio. The investment program, which began in 2024, is expected to support more than 2,000 direct and indirect jobs across the company’s operations and supply network. President and CEO David Waterfield said the campaign reflects continued investment in U.S. manufacturing and workforce development as the company positions itself for long-term growth.
The funding will support Reynolds American’s ongoing transition toward a predominantly smokeless portfolio, including modernization and expansion of manufacturing facilities, increased innovation and production capacity, and stronger domestic supply chains. The company said more than $200 million has already been invested in U.S. manufacturing over the past two years as part of the broader commitment.
The company currently employs more than 4,300 people in the United States across manufacturing, science, engineering, and corporate roles. Chief People Officer Borgia Walker said the organization is focused on expanding career opportunities and workforce capabilities as it continues to grow. Reynolds American said its supply chain also supports agriculture and local economies nationwide. In 2025, the company was the largest purchaser of U.S. tobacco leaf, reinforcing the role of farmers, particularly in North Carolina, within its domestic supply network.
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China Tobacco Lifts 2025 Profit, Increases Dividend
China Tobacco International (HK) Company Limited reported strong full-year results for 2025, with revenue rising 11.5% year-on-year to HK$14.6 billion ($1.9 billion), lifting gross profit to HK$1.5 billion ($191 million) and net profit to HK$1.05 billion ($136.5 million), up 16%. Earnings per share increased to HK$1.42 ($0.18) from HK$1.23 ($0.16), supported by lower finance costs and higher other income, which drove a nearly 15% rise in profit before tax. Reflecting its solid financial performance and cash flow, the board recommended a final dividend of HK$0.33 ($0.043) per share, bringing the full-year payout to HK$0.52 ($0.068), a 13% increase that underscores the company’s commitment to creating shareholder value.
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Nebraska Cigarette Tax Increase Fails to Advance
A proposal to raise Nebraska’s cigarette tax and increase levies on vaping products failed to advance in the state legislature after a cloture motion to end debate fell short. Danielle Conrad led a two-day filibuster against Legislative Bill 1124, arguing the measure would place a disproportionate burden on lower-income residents, while a group of fiscal conservatives also opposed the bill on anti-tax grounds. The proposal would have raised the state cigarette tax from 64 cents to $1.64 per pack, potentially generating up to $50 million annually to help address Nebraska’s budget deficit.
Supporters, including Appropriations Committee Chair Rob Clements, had promoted the measure as a revenue tool to offset rising Medicaid costs amid a projected budget shortfall of more than $100 million. A compromise amendment to remove the cigarette tax increase while retaining a higher tax on vape products — expected to generate about $6 million — was briefly adopted but ultimately voided after the cloture vote failed.
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PMI Declares $1.47 Quarterly Dividend
The Board of Directors of Philip Morris International Inc. today (March 5) declared a regular quarterly dividend of $1.47 per common share, payable on April 13, to shareholders of record as of March 19. The ex-dividend date is March 19. For more details, visit www.pmi.com/dividend.