RICHMOND, Va., May 24, 2016 /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-three
cents ($0.53) per share on the
common shares of the Company, payable August
8, 2016, to common shareholders of record at the close of
business on July 11, 2016.
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
June 15, 2016, to shareholders of
record as of 5:00 p.m. Eastern Time
on June 1, 2016.
Effective with the payment of the Company's common stock
dividend on May 9, 2016, the Company
adjusted the conversion rate on its Series B Preferred Stock. The
adjusted conversion rate on the Series B Preferred Stock is 22.3140
common shares per $1,000 of
liquidation preference of Series B Preferred Stock. The new rate is
equivalent to a conversion price of approximately $44.81 per common share.
The Board of Directors set the date of the Annual Meeting of
Shareholders as Thursday, August 4,
2016. It will be held at 2:00
p.m. at the Company's headquarters building. The Board of
Directors set the record date for the Annual Meeting of
Shareholders as June 10, 2016.
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, 2015, were $2.3 billion. For more information on Universal
Corporation, visit its website at www.universalcorp.com.
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SOURCE Universal Corporation