Welcome to our dedicated page for Universal news (Ticker: UVV), a resource for investors and traders seeking the latest updates and insights on Universal stock.
Universal Corporation (NYSE: UVV) maintains its position as a global leader in leaf tobacco supply and agriproduct solutions through strategic operations across 30+ nations. This news hub provides investors and industry stakeholders with verified updates on corporate developments, financial disclosures, and supply chain initiatives.
Access real-time announcements including quarterly earnings reports, processing facility expansions, and sustainability partnerships. Our curated collection features press releases on agricultural sourcing innovations, ingredient technology advancements, and leadership changes within Universal's B2B network.
Key coverage areas include tobacco procurement trends, agriproduct R&D milestones, and operational updates from Universal's dual business segments. Bookmark this page for streamlined tracking of market positioning shifts and regulatory compliance developments in the global tobacco supply sector.
Universal Corporation (NYSE:UVV) reported solid results for the nine months ended December 31, 2021, with consolidated sales increasing 7% to $1.46 billion. The acquisition of Shank's Extracts enhanced the Ingredients Operations segment, which saw a 116% revenue boost. However, tobacco shipment delays and higher operational costs due to inflation and logistical challenges impacted overall performance. Despite these hurdles, the company maintained strong customer demand and kept its uncommitted tobacco inventory within target ranges.
Universal Corporation (NYSE: UVV) has declared a quarterly dividend of $0.78 per share, scheduled for payment on May 2, 2022. Shareholders of record as of April 11, 2022 will be eligible for this dividend. Headquartered in Richmond, Virginia, Universal is a leading global leaf tobacco supplier and operates in over 30 countries. The company focuses on sustainable supply chains and high-quality agri-products, including plant-based ingredients for the food and beverage markets.
Universal Corporation (NYSE:UVV) reported strong performance for the first half of fiscal year 2022, with consolidated revenues reaching $804 million, a 16% increase compared to the previous year. Operating income rose by 62% to $40.4 million, and diluted earnings per share improved by 73% to $1.04.
The company's tobacco operations benefitted from a favorable product mix and reduced carryover sales of lower-margin tobaccos. However, challenges related to global supply chain disruptions and rising costs due to inflation were noted.
Universal Corporation (NYSE:UVV) has declared a quarterly dividend of $0.78 per share on common shares, payable on February 7, 2022. To qualify, shareholders must own shares by the close of business on January 10, 2022. Based in Richmond, Virginia, Universal Corporation operates in over 30 countries, specializing in agri-products, particularly as a leading supplier of leaf tobacco. The company emphasizes a commitment to a sustainable supply chain and high-quality value-added products for its customers, which include consumer product manufacturers.
Universal Corporation (NYSE: UVV) has completed the acquisition of Shank's Extracts, Inc., enhancing its plant-based ingredients platform. This acquisition is funded through cash on hand and existing borrowing, expanding Universal's offerings with over 2,400 extracts, distillates, and natural flavors, notably in vanilla. With a 191,000 square foot facility in Lancaster, Pennsylvania, Shank's employs over 200 people. Universal aims to leverage this acquisition to provide value-added services, benefiting its global B2B operations in the food and beverage sector.
Universal Corporation (NYSE: UVV) announced a definitive agreement to acquire Shank's Extracts, Inc., a leader in flavoring and extracts, enhancing its plant-based ingredients platform. Founded in 1899, Shank's specializes in vanilla and offers over 2,400 extracts for global customers. The acquisition aims to bolster Universal's services and product development capabilities, driven by Shank's commitment to food safety and quality. Expected to close in Q4 2021, the deal is anticipated to be accretive to earnings for fiscal year 2023, funded by cash and revolving credit.
Universal Corporation (NYSE:UVV) reported improvements in its financial performance for the first quarter of fiscal year 2022, ended June 30, 2021. Sales rose 11% to $350.0 million, driven by increased tobacco shipments from Africa and strong performance in the Ingredients Operations segment, particularly after the acquisition of Silva International. Operating income grew 24% to $10.6 million, while adjusted diluted earnings per share surged 1,400% to $0.30. Despite lower tobacco sales volumes, the company is optimistic about future growth amid ongoing pandemic-related challenges.
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