Bristol,UK-based tobacco company Imperial Brands PLC(IMBBY) used to be called Imperial Tobacco Group PLC until recently. The company was founded in 1901 and is one of the largest tobacco makers in the UK and the world.
The stock trades on the OTC market in the US and like its peers Imperial Brands has had a great run since 2009. The ADR closed at $106.88 yesterday.
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Source: BNY Mellon
Imperial has announced a 2 for 1 stock split for holders as of July 7, 2016. Details of the split announcement are below:
Imperial Brands PLC has informed Citibank that it will change the ratio it will change its ADR to share from one (1) ADR representing two (2) ordinary share to one (1) ADR representing one (1) ordinary share. effective July 22, 2016. As a result of this ratio change, ADR holders will receive 1 additional ADR for every ADR held as of July 14, 2016..
The cusip will remain the same. No action on the part of Holders or Beneficial Owners is required.
Ratio Change Information:
Old Ratio: 2 Ordinary Shares : 1 ADS
New Ratio: 1 Ordinary Share : 1 ADR
The Effective Date for this ratio change is July 22, 2016
Source: Citi Depository Services
As of yesterday the stock has a dividend yield of 1.26%. Investors with a long-term horizon can consider adding Imperial at current or lower prices.
Competitor British American Tobacco PLC (BTI) trades at around $125 and has a 3.63% dividend yield.
Disclosure: No Positions