RICHMOND, Va., May 25, 2022
/PRNewswire/ -- George C. Freeman,
III, Chairman, President, and Chief Executive Officer of
Universal Corporation (NYSE:UVV), announced today that the
Company's Board of Directors declared a quarterly dividend of
seventy-nine cents ($0.79) per share on the common shares of the
Company, payable August 1, 2022, to
common shareholders of record at the close of business on
July 11, 2022. This increase
indicates an annualized rate of $3.16
per common share and a yield of approximately 5% based on the
$60.22 closing price on May 23, 2022.
Mr. Freeman noted, "Increasing our dividend remains a key tenant
of our capital allocation strategy. We have raised our common
dividend every year since 1971. This is our 52nd
consecutive annual dividend increase, and I am very proud of this
achievement."
The Board of Directors set the date of the Annual Meeting of
Shareholders as Tuesday, August 2,
2022. It will be held at 11:00
a.m. at the Company's headquarters building. The Board of
Directors set the record date for the Annual Meeting of
Shareholders as June 7, 2022.
Universal Corporation (NYSE: UVV), headquartered in Richmond, Virginia, is a global
business-to-business agri-products supplier to consumer product
manufacturers, operating in over 30 countries on five continents.
We strive to be the supplier of choice for our customers by
leveraging our farmer base, our commitment to a sustainable supply
chain, and our ability to provide high-quality, customized,
traceable, value-added agri-products essential for our customers'
requirements. We find innovative solutions to serve our customers
and have been meeting their agri-product needs for more than 100
years. Our principal focus since our founding in 1918 has been
tobacco, and we are the leading global leaf tobacco supplier.
Through our plant-based ingredients platform, we provide a variety
of value-added manufacturing processes to produce high-quality,
specialty vegetable- and fruit-based ingredients as well as
botanical extracts and flavorings for the food and beverage end
markets. For more information, visit www.universalcorp.com.
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SOURCE Universal Corporation