Universal Corporation Announces 40th Annual Increase in Dividends

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Nov 04, 2010, 01:29 ET

RICHMOND, Va., Nov. 4, 2010 /PRNewswire-FirstCall/ -- George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation (NYSE: UVV), announced today that the Company's Board of Directors has declared a quarterly dividend of forty-eight cents ($0.48) per share on the common shares of the Company, payable February 14, 2011, to common shareholders of record at the close of business on January 10, 2011.

Mr. Freeman noted, "This is our 40th consecutive annual dividend increase. We are proud of our strong record of returning value to our shareholders, and our consistent dividend delivery is one aspect of that record." Universal has raised its common dividend every year since 1971.

In addition, the Board of Directors declared a quarterly dividend of $16.875 per share on the Series B 6.75% Convertible Perpetual Preferred Stock, payable December 15, 2010, to shareholders of record as of 5:00 p.m. Eastern Time on December 1, 2010.

Headquartered in Richmond, Virginia, Universal Corporation is one of the world's leading tobacco merchants and processors and conducts business in more than 30 countries. Its revenues from continuing operations for the fiscal year ended March 31, 2010, were $2.5 billion. For more information on Universal Corporation, visit its web site at www.universalcorp.com.

SOURCE Universal Corporation