Universal Stock Price, News & Analysis

Universal Corporation (NYSE:UVV) has declared a quarterly dividend of $0.78 per share on common shares, payable on February 7, 2022. To qualify, shareholders must own shares by the close of business on January 10, 2022. Based in Richmond, Virginia, Universal Corporation operates in over 30 countries, specializing in agri-products, particularly as a leading supplier of leaf tobacco. The company emphasizes a commitment to a sustainable supply chain and high-quality value-added products for its customers, which include consumer product manufacturers.

Universal Corporation (NYSE: UVV) has completed the acquisition of Shank's Extracts, Inc., enhancing its plant-based ingredients platform. This acquisition is funded through cash on hand and existing borrowing, expanding Universal's offerings with over 2,400 extracts, distillates, and natural flavors, notably in vanilla. With a 191,000 square foot facility in Lancaster, Pennsylvania, Shank's employs over 200 people. Universal aims to leverage this acquisition to provide value-added services, benefiting its global B2B operations in the food and beverage sector.

Universal Corporation (NYSE: UVV) announced a definitive agreement to acquire Shank's Extracts, Inc., a leader in flavoring and extracts, enhancing its plant-based ingredients platform. Founded in 1899, Shank's specializes in vanilla and offers over 2,400 extracts for global customers. The acquisition aims to bolster Universal's services and product development capabilities, driven by Shank's commitment to food safety and quality. Expected to close in Q4 2021, the deal is anticipated to be accretive to earnings for fiscal year 2023, funded by cash and revolving credit.

Universal Corporation (NYSE:UVV) reported improvements in its financial performance for the first quarter of fiscal year 2022, ended June 30, 2021. Sales rose 11% to $350.0 million, driven by increased tobacco shipments from Africa and strong performance in the Ingredients Operations segment, particularly after the acquisition of Silva International. Operating income grew 24% to $10.6 million, while adjusted diluted earnings per share surged 1,400% to $0.30. Despite lower tobacco sales volumes, the company is optimistic about future growth amid ongoing pandemic-related challenges.

On August 4, 2021, Universal Corporation (NYSE: UVV) announced a quarterly dividend of $0.78 per share, payable on November 1, 2021. Shareholders must be on record by October 11, 2021 to receive this dividend. The company, a leader in leaf tobacco supply with over $2.0 billion in revenue for the fiscal year ending March 31, 2021, operates in over 30 countries, providing both tobacco and plant-based ingredients. Universal Corporation aims to meet customer needs innovatively, continuing its century-long tradition.

Universal Corporation reported significant growth for fiscal year 2021, with net income and diluted earnings per share increasing over 20% compared to fiscal year 2020. Key drivers included strong leaf tobacco shipments in the second half, successful acquisitions in plant-based ingredients, and favorable foreign currency impacts. Total revenues rose to $1.98 billion, a 4% increase from the previous year. The Ingredients Operations segment saw a dramatic revenue increase of 518%. The company also announced its 51st annual dividend increase, reflecting its commitment to shareholder value.

On May 26, 2021, Universal Corporation (NYSE: UVV) announced a quarterly dividend of $0.78 per share, payable on August 2, 2021, to shareholders of record by July 12, 2021. This marks the company's 51st consecutive annual dividend increase, aligning with its capital allocation strategy and commitment to delivering shareholder value. The increase leads to an annualized rate of $3.12 per share, equating to an approximate yield of 5% based on a closing price of $59.06 on May 25, 2021.