Attached files
| file | filename |
|---|---|
| 8-K - UNIVERSAL CORP /VA/ | v210390_8k.htm |
| EX-99.2 - UNIVERSAL CORP /VA/ | v210390_ex99-2.htm |
P.O. Box
25099 Richmond, VA 23260 phone: (804) 359-9311 fax:
(804) 254-3584
P R E S S R E L E A S
E
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CONTACT
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RELEASE
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Karen
M. L. Whelan
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Immediately |
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Phone: (804)
359-9311
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Fax: (804)
254-3594
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| Email: investor@universalleaf.com |
Universal Corporation Announces
Quarterly Dividends and Adjustment to Conversion Rate
Richmond, VA • February 8, 2011 /
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 forty-eight cents ($0.48) per share on the common shares of the
Company, payable May
9, 2011, to common shareholders of record at
the close of business on April 11, 2011.
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
March 15, 2011, to shareholders of record as of 5:00
p.m. Eastern Time on March
1, 2011.
Effective with the payment of the
Company’s common stock dividend on February 14, 2011, the Company will adjust
the conversion rate on its Series B Preferred Stock. The adjustment
of the conversion rate on the Series B Preferred Stock is required by the terms
and conditions of the Series B Preferred Stock offering documents due to
increases in the cash dividend per share of Universal’s common
stock. The adjusted conversion rate on the Series B Preferred Stock
will be 21.6267 common shares per $1,000 of liquidation preference of Series B
Preferred Stock. The new rate, which represents an increase of 0.4%,
will be equivalent to a conversion price of approximately $46.24 per common
share.
Headquartered in Richmond, Virginia, Universal Corporation is the world's
leading leaf tobacco merchant and processor 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.
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