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Imperial cuts dividend to pay debt

Tobacco giant expects second half of year to worsen, with a hit to travel retail
Imperial cuts dividend to pay debt

Imperial Brands (IMB) has slashed its half-year dividend by a third to 41.7p, in a bid to lighten its £14bn debt load. The tobacco giant said the uncertainties caused by the coronavirus pandemic and the regulatory scrutiny of its industry “reinforces the importance of a strong balance sheet to underscore the defensive characteristics of our business”.

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