Universal Sets Dividend of 47 Cents Per Share

Source from:  AP 02/08/2010

Tobacco processor and seller Universal Corp. says it will pay a quarterly dividend of 47 cents per share payable May 10 to shareholders as of April 12. The company also said Thursday it would pay a quarterly dividend of $16.875 per share on Series B 6.75 percent convertible preferred stock on March 15 to holders as of March 1. The company said it will also change the conversion rate on the Series B preferred shares to 21.5413 common shares per $1,000 of liquidation preference, an increase of 0.3 percent and equal to a conversion price of $46.42 per common share. Shares in the Richmond company rose $1.68, or 3.7 percent, to $47.04. Enditem