The British American Toacco Plc Board has declared an interim dividend of 240.24p per ordinary share of 25p for the year ended 31 December 2024, payable in four equal quarterly instalments of 60.06p per ordinary share in May 2025, August 2025, November 2025 and February 2026. This represents an increase of 2.0% on 2023 (2023: 235.52p per share), and a pay-out ratio, on 2024 adjusted diluted earnings per share, of 66.3%.
Other financial highlights include:
- Revenue down 5.2%, driven by the sale of their businesses in Russia and Belarus in September 2023 and translational FX headwinds
- Organic revenue up 1.3% (at constant rates), driven by New Categories revenue up 8.9%
- Total combustibles organic revenue increased 0.1% (at constant rates), as organic price/mix of +5.3% was offset by 5.2% lower volume
- Reported profit from operations of £2,736m (2023: loss of £15,751m) with 2024 including a provision of £6.2 billion in respect of the proposed settlement in Canada, while 2023 was negatively impacted by one-off impairment charges largely in the U.S.
- Adjusted organic profit from operations up 1.4% (at constant rates), driven by AME and APMEA
- New Categories contribution increased by £251 million on an adjusted organic, constant FX basis, with category contribution margin now at 7.1%, an increase of7.1 ppts on 2023
- Reported diluted EPS at 136.0p; adjusted organic diluted EPS up 3.6% (at constant rates)
- Free cash flow of £7,901 million; adjusted net debt / adjusted EBITDA down 0.13x to 2.44x (down 0.3x at constant rates)
- Continued Sustainability progress - launched Omni, a major global initiative to help in making a Smokeless World a reality
