Universal Stock Price, News & Analysis

Universal Corporation (NYSE:UVV) declared a quarterly dividend of $0.79 per share on February 1, 2023. This dividend is payable on May 1, 2023, to shareholders of record by the close of business on April 10, 2023. The company, based in Richmond, Virginia, is a leading global supplier of leaf tobacco and other agri-products, operating in over 30 countries. Universal Corporation has a focus on sustainability and provides high-quality, customized agri-products to consumer product manufacturers, leveraging over 100 years of industry experience.

Universal Corporation (NYSE: UVV) has announced the appointment of Arthur J. Schick, Jr., a former Vice President at PepsiCo, to its Board of Directors, effective April 1, 2023. This expansion brings the Board to nine members, with eight being independent. Schick boasts over 40 years of experience in the food and beverage industry, specifically in ingredients and supply chain management. His expertise aligns with Universal's growth strategy in plant-based ingredients. Schick expressed enthusiasm about Universal's potential for success in the ingredients market, emphasizing its solid foundation and sustainable strategy.

Universal Corporation (NYSE:UVV), based in Richmond, Virginia, has revised the schedule for its third quarter fiscal year 2023 earnings conference call. The call will now take place on February 8, 2023, at 5:00 p.m. Eastern Time, following the release of its quarterly results after market close on the same day. A live webcast will be available for listening, with a replay accessible until May 8, 2023. Universal Corporation continues to supply high-quality agri-products worldwide, primarily focusing on tobacco and plant-based ingredients, serving customers in over 30 countries.

Universal Corporation (UVV) reports strong demand for both tobacco and plant-based products. For the six months ended September 30, 2022, sales increased by 34% to $1,080.8 million, driven by robust tobacco shipments and a successful Ingredients Operations segment. Operating income rose 27% to $51.2 million. Despite inflationary costs, both segments showed profitability, with Ingredients Operations achieving a 44% revenue increase. The company plans to decrease debt over the next two quarters as seasonal sales improve. However, challenges in specific regions and lower-margin tobacco sales remain a concern.

Universal Corporation (NYSE: UVV) declared a quarterly dividend of $0.79 per share, payable on February 6, 2023, to shareholders on record as of January 9, 2023. Furthermore, the Board approved a $100 million share repurchase program, allowing purchases in the open market or through private transactions. With approximately 24.6 million shares outstanding, this buyback underscores the company's commitment to enhancing shareholder value. Universal Corporation operates globally in over 30 countries, primarily focusing on agri-products and being the leading supplier of leaf tobacco.

Universal Corporation (NYSE: UVV) reported a revenue increase of 23% to $429.8 million for the quarter ending June 30, 2022, driven by strong tobacco sales and the acquisition of Shank's Extracts. However, operating income for its Tobacco Operations segment declined by 9% to $8.1 million, largely due to unfavorable foreign currency rates. The Ingredients Operations segment showed growth, with sales up 46% to $81.8 million. Despite rising costs, including a 22% increase in cost of goods sold, the company maintained a gross profit margin of 18.5%.