RICHMOND, Va., Aug. 5, 2014 /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 fifty-one cents
($0.51) per share on the common
shares of the Company, payable November 10,
2014, to common shareholders of record at the close of
business on October 14, 2014.
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 ("Series B
Preferred Stock"), payable September 15,
2014, to shareholders of record as of 5:00 p.m. Eastern Time on September 1, 2014.
Effective with the payment of the Company's common stock
dividend on August 11, 2014, the
Company will adjust the conversion rate on its Series B Preferred
Stock. The adjusted conversion rate on the Series B Preferred Stock
will be 22.0292 common shares per $1,000 of liquidation preference of Series B
Preferred Stock. The new rate is equivalent to a conversion price
of approximately $45.39 per common
share.
Headquartered in Richmond,
Virginia, Universal Corporation is the leading global leaf
tobacco supplier and conducts business in more than 30
countries. Its revenues for the fiscal year ended
March 31, 2014, were $2.5 billion. For more information on
Universal Corporation, visit its web site at
www.universalcorp.com.
SOURCE Universal Corporation