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  • KT&G Announces Additional Share Returns, Increased Annual Dividend

    KT&G Announces Additional Share Returns, Increased Annual Dividend

    KT&G announced stronger shareholder return measures and reaffirmed its global growth trajectory yesterday (September 23) at its “2025 CEO Investor Day.” The company committed to a minimum annual dividend of 6,000 KRW ($4.26), a 600 KRW ($0.43) increase from last year, alongside an additional 260 billion KRW ($184.6 million) in share repurchases and cancellations—funded by the sale of non-core assets. This represents a 171% increase in shareholder returns year-over-year. KT&G has already canceled 10.4% of its shares since 2023 and aims to build further value through flexible capital deployment as global business performance continues to accelerate, supported by premiumization, cost optimization, and fully localized value chains. The company is targeting double-digit growth in both operating profit and revenue in 2025, following five consecutive quarters of “triple growth” across revenue, profit, and sales volume.

    In parallel, KT&G disclosed a comprehensive MOU with Altria Group, Inc. to collaborate across nicotine and non-nicotine categories. KT&G CEO Kyung-man Bang emphasized that the combined strategy of strong shareholder returns and global expansion through strategic partnerships positions the company for sustainable long-term growth.

  • Tobacco at Forefront of Closing Gender Pay Gap

    Tobacco at Forefront of Closing Gender Pay Gap

    Photo: Fokussiert

    Tobacco and alcohol companies are at the forefront of closing the gender pay gap, reports MSN, citing a study of major U.K. companies.

    While typically shunned by ethical investors, these so-called sin companies are contributing more to gender equity than some of their less controversial counterparts.

    BAT, for example, is going beyond the call of duty on gender pay, according to the research. Other top performers in this field include Guinness owner Diageo, Reckitt and Unilever.

    Across the board, the gender pay gap remains stuck at 9.4 percent in favor of men—the same as five years ago when firms first had to publish figures.

    All sectors continue to pay men more than women, but some are worse than others, with banking and finance, construction and education among the biggest offenders.

    U.K. firms, charities and public sector departments that have 250 staff or more must publish their gender pay gap on a government website.

  • PMI, Medicago Cut Ties After WHO Rejection

    PMI, Medicago Cut Ties After WHO Rejection

    Credit: Antonioguillem

    Philip Morris International and the health group Medicago have severed ties after the World Health Organization rejected Medicago’s Covid-19 vaccine, according to a tobacco control body.

    Covifenz, the world’s first plant-based Covid-19 vaccine, was jointly developed by Medicago, which is owned by Mitsubishi Chemical, Philip Morris and Glaxo, according to Bloomberg. The Canadian government, which provided $173 million in funding for its development, has cleared it for use.

    The government of Quebec previously said it wanted to help Medicago replace its shareholder PMI with another investor so that the biotech firm can distribute its Covifenz Covid-19 vaccine internationally.

    “Tobacco corporations, vaccines and governments don’t mix well, and we applaud the expulsion of Philip Morris from the Medicago collaboration,” Les Hagen, the executive director of not-for-profit organization ASH Canada, said in a statement. 

    Medicago’s request for an emergency-use listing was denied earlier this year by the World Health Organization because of the links with tobacco industry.

    Earlier this year, Medicago announced it would cut 62 jobs at its manufacturing facility in Durham, North Carolina, USA, which played a key role in producing the company’s tobacco plant-based Covid-19 vaccine.