Universal Corp. (UVV) Approves $150M Buyback, Boosts Qtr. Dividend by 2.2% to $0.47
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Universal Corp. (NYSE: UVV) announced today that the Company's Board of Directors approved a program for the repurchase of up to $150 million of Universal Corporation 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.
Also, the Board has approved a 2.2% increase in its quarterly dividend from $0.46 to $0.47, payable February 9, 2010, to common shareholders of record at the close of business on January 11, 2010. The dividend yield moves from 4.21% to 4.30%.
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