Universal Corporation (UVV) Announces Quarterly Dividends

Source from:  PRNewswire 08/05/2015

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-two cents ($0.52) per share on the common shares of the Company, payable November 9, 2015, to common shareholders of record at the close of business on October 13, 2015.

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, 2015, to shareholders of record as of 5:00 p.m. Eastern Time on September 1, 2015.

Effective with the payment of the Company's common stock dividend on August 10, 2015, 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 22.1952 common shares per $1,000 of liquidation preference of Series B Preferred Stock. The new rate is equivalent to a conversion price of approximately $45.05 per common share. Enditem