How much is Universal 's (UVV) new share repurchase program worth?

Universal 's Board of Directors approved a share repurchase program worth up to $100 million.

Universal Corporation Announces Quarterly Dividend and Share Repurchase Program

(Neutral)

Rhea-AI Summary

Universal (NYSE:UVV) has announced two significant shareholder actions. The Board of Directors declared a quarterly dividend of $0.81 per share, payable February 3, 2025, to shareholders of record as of January 13, 2025. Additionally, the Board approved a $100 million share repurchase program, allowing purchases on the open market or through private negotiations at prevailing market rates. The company currently has approximately 24.7 million common shares outstanding.

Positive

Board approved $100 million share repurchase program
Maintained quarterly dividend of $0.81 per share
Share repurchase program demonstrates confidence in company's financial position

Negative

None.

News Market Reaction – UVV

+1.98%

+1.98% Session move

In the trading session that priced this news, UVV gained 1.98%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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11/07/2024 - 04:15 PM

RICHMOND, Va., Nov. 7, 2024 /PRNewswire/ -- Universal Corporation (NYSE:UVV), a global business-to-business agriproducts company, announced today that the Company's Board of Directors declared a quarterly dividend of eighty-one cents ($0.81) per share on the common shares of the Company, payable February 3, 2025, to common shareholders of record at the close of business on January 13, 2025.

In addition, the Company announced that the Company's Board of Directors has approved a program for the repurchase of up to $100 million of Universal Corporation shares of common stock. The authorized purchases may be made from time to time on the open market or in privately negotiated transactions at prices not exceeding prevailing market rates. Universal currently has approximately 24.7 million common shares outstanding.

Universal Corporation (NYSE: UVV) is a global agricultural company with over 100 years of experience supplying products and innovative solutions to meet our customers' evolving needs and precise specifications. Through our diverse network of farmers and partners across more than 30 countries on five continents, we are a trusted provider of high-quality, traceable products. We leverage our extensive supply chain expertise, global reach, integrated processing capabilities, and commitment to sustainability to provide a range of products and services designed to drive efficiency and deliver value to our customers. For more information, visit www.universalcorp.com.

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SOURCE Universal Corporation

FAQ

What is Universal 's (UVV) new quarterly dividend amount for 2025?

Universal 's quarterly dividend is $0.81 per share, payable February 3, 2025, to shareholders of record as of January 13, 2025.

How many common shares does Universal (UVV) currently have outstanding?

Universal currently has approximately 24.7 million common shares outstanding.

When will Universal (UVV) pay its next quarterly dividend?

Universal will pay its quarterly dividend on February 3, 2025, to shareholders of record as of January 13, 2025.