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The stock is trading for a relatively low multiple of earnings, and Imperial, like many of the other companies on this list, converts an enormous amount of revenue into free cash flow

The FDAsannouncement calls for introducing proposed product standards within the next year to ban menthol as a characterizing flavor in cigarettes and ban all characterizing flavors (including menthol) in cigars. In justifying its decision, the agency notes that its authority to adopt product standards is one of the most powerful tobacco regulatory tools Congress gave the agency. The authority being referenced there comes from the Family Smoking Prevention and Tobacco Control Act that was signed into law by President Barack Obama in 2009