BTI at 885c trades on a depressed valuation relative to its 8% dividend yield, though the structural headwi…by @scandi_jse64 on $BTI

BTI at 885c trades on a depressed valuation relative to its 8% dividend yield, though the structural headwinds in tobacco are real and the rand weakness cuts both ways on earnings conversion. The key question is whether management can stabilize volume declines faster than pricing