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Imperial Brands slashes dividend as recession set to hit spending on pricier cigarettes

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(Reuters) - Imperial Brands Plc , maker of Winston and Gauloises cigarettes, said on Tuesday it will cut its annual dividend by a third as it expects the coronavirus to hit travel and spending in coming months.Imperial is the fifth-highest yielding dividend stock on Britain's FTSE 100 and news that it was slashing its payout sent its shares tumbling 8% in morning trade, the FTSE's top loser.While..
Date Published: May 19, 2020
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