Universal Corporation Announces 51st Annual Dividend Increase and Sets Annual Meeting Date

Rhea-AI Summary

On May 26, 2021, Universal Corporation (NYSE: UVV) announced a quarterly dividend of $0.78 per share, payable on August 2, 2021, to shareholders of record by July 12, 2021. This marks the company's 51st consecutive annual dividend increase, aligning with its capital allocation strategy and commitment to delivering shareholder value. The increase leads to an annualized rate of $3.12 per share, equating to an approximate yield of 5% based on a closing price of $59.06 on May 25, 2021.

Positive

• 51st consecutive annual dividend increase demonstrates consistent shareholder value.
• Annualized dividend rate of $3.12 per share reflects company confidence.
• Yield of approximately 5% indicates strong return potential for investors.

Negative

• None.

RICHMOND, Va., May 26, 2021 /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-eight cents ($0.78) per share on the common shares of the Company, payable August 2, 2021, to common shareholders of record at the close of business on July 12, 2021.  This increase indicates an annualized rate of $3.12 per common share and a yield of approximately 5% based on the $59.06 closing price on May 25, 2021.

Mr. Freeman noted, "Universal has raised its common dividend every year since 1971. Today's 51^st consecutive annual dividend increase dividend increase is in line with our capital allocation strategy and our commitment to deliver shareholder value."

The Board of Directors set the date of the Annual Meeting of Shareholders as Tuesday, August 3, 2021.  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 8, 2021.

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, that sources and processes leaf tobacco and plant-based ingredients.  Tobacco has been the Company's principal focus since its founding in 1918, and Universal is the leading global leaf tobacco supplier. Through the Company's plant-based ingredients platform, it provides a variety of value-added manufacturing processes to produce high-quality, specialty vegetable- and fruit-based ingredients for the food and beverage end markets.  Universal has been finding innovative solutions to serve its customers and meet their agri-product needs for more than 100 years.  The Company's revenues for the fiscal year ended March 31, 2020, were $1.9 billion.  Visit www.universalcorp.com for more information on Universal Corporation and the latest Company news.

 

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SOURCE Universal Corporation

FAQ

What is the dividend amount declared by Universal Corporation (UVV) in May 2021?

Universal Corporation declared a dividend of $0.78 per share in May 2021.

When will the dividend for UVV shareholders be paid?

The dividend will be paid on August 2, 2021.

What is the annualized dividend rate for UVV based on the recent announcement?

The annualized dividend rate is $3.12 per share.

What is the yield percentage for Universal Corporation's dividend announced in May 2021?

The yield percentage is approximately 5%.

When is the Annual Meeting of Shareholders for Universal Corporation scheduled?

The Annual Meeting of Shareholders is scheduled for August 3, 2021.