Universal Corporation Declares Dividend and Stock Buyback Plan

Universal Corporation Announces Quarterly Dividend

Universal Corporation (NYSE: UVV), a renowned global agriproducts company, has declared a quarterly dividend, reflecting its commitment to returning value to shareholders. The Board of Directors has set the dividend at eighty-one cents ($0.81) per share on the common shares. This distribution is set to be paid to shareholders who are on record as of the close of business on a specified date. This initiative underscores the company’s strong financial standing and outlook.

Details of the Dividend Declaration

The announced dividend will be payable to common shareholders of record. The decision to declare a dividend takes into account the company’s sustained performance and is part of a broader strategy to enhance shareholder returns. Regular dividends are a sign of financial health, and this move by Universal Corporation highlights its ongoing commitment to providing consistent returns to investors.

Share Repurchase Program Approved

In conjunction with the dividend announcement, Universal Corporation's Board has also approved a substantial share repurchase program. This program allows for the repurchase of up to $100 million of common stock. The shares can be bought back in the open market or through privately negotiated transactions, aiming to buy stock at or under prevailing market rates. Such initiatives are commonly employed by companies to reinforce their financial position while providing additional value to shareholders.

Implications of the Share Buyback

The decision to engage in stock buybacks often indicates a company's confidence in its future growth opportunities. By reducing the number of outstanding shares, the company could potentially increase earnings per share and improve financial metrics that attract investors. This program demonstrates Universal's strategy to not only reward current shareholders but to also position itself more favorably in the marketplace.

About Universal Corporation

Universal Corporation (NYSE: UVV) boasts over a century of experience in the agricultural sector, supplying various products and innovative solutions tailored to meet the evolving needs of customers around the globe. With a substantial network of farmers and partners spanning over 30 countries and five continents, the Company is recognized for its high-quality, traceable products.

Global Reach and Sustainability Practices

Universal’s extensive supply chain capabilities, complemented by its integrated processing abilities, enable it to provide products designed for efficiency and sustainability. The commitment to sustainability not only fosters long-term growth but also strengthens relationships with partners and consumers alike, paving the way for a more sustainable future.

Looking Ahead

As Universal Corporation continues to evolve, it remains dedicated to enhancing shareholder value through innovative practices and a robust business model. The quarterly dividend and stock buyback program are just a few components of its holistic approach to growth and stability, ensuring that it remains a trusted provider in the agriproduct space.

Frequently Asked Questions

What is the newly announced dividend amount from Universal Corporation?

The newly announced dividend is eighty-one cents ($0.81) per share on the common shares.

When will the dividend be paid to shareholders?

The dividend will be payable to common shareholders on a specified date to those of record by a designated time.

What is the purpose of the share repurchase program?

The share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares.

How much is the share repurchase program worth?

The approved share repurchase program allows for up to $100 million in common stock to be repurchased.

What distinguishes Universal Corporation in the agriproducts industry?

Universal Corporation is distinguished by its rich history of over 100 years in the agricultural space, commitment to sustainability, and vast global network of suppliers.

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