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

(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 the company joins a crowd of FTSE 100 companies that have cut dividends in recent months, including..