Universal Corp. (UVV) Declares $0.49 Quarterly Dividend; 4.2% Yield
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Universal Corp. (NYSE: UVV) declared a quarterly dividend of $0.49 per share, or $1.96 annualized.
The dividend will be payable on May 14, 2012, to stockholders of record on April 9, 2012, with an ex-dividend date of April 4, 2012.
The annual yield on the dividend is 4.2 percent.
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 March 15, 2012, to shareholders of record as of 5:00 p.m. Eastern Time on March 1, 2012.
Effective with the payment of the Company's common stock dividend on February 13, 2012, the Company will adjust the conversion rate on its Series B Preferred Stock. The adjustment of the conversion rate on the Series B Preferred Stock is required by the terms and conditions of the Series B Preferred Stock offering documents due to increases in the cash dividend per share of Universal's common stock. The adjusted conversion rate on the Series B Preferred Stock will be 21.7365 common shares per $1,000 of liquidation preference of Series B Preferred Stock. The new rate, which represents an increase of 0.5%, will be equivalent to a conversion price of approximately $46.01 per common share.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 March 15, 2012, to shareholders of record as of 5:00 p.m. Eastern Time on March 1, 2012.
For a dividend history and other dividend-related data on Universal Corp. (UVV) click here.
The dividend will be payable on May 14, 2012, to stockholders of record on April 9, 2012, with an ex-dividend date of April 4, 2012.
The annual yield on the dividend is 4.2 percent.
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 March 15, 2012, to shareholders of record as of 5:00 p.m. Eastern Time on March 1, 2012.
Effective with the payment of the Company's common stock dividend on February 13, 2012, the Company will adjust the conversion rate on its Series B Preferred Stock. The adjustment of the conversion rate on the Series B Preferred Stock is required by the terms and conditions of the Series B Preferred Stock offering documents due to increases in the cash dividend per share of Universal's common stock. The adjusted conversion rate on the Series B Preferred Stock will be 21.7365 common shares per $1,000 of liquidation preference of Series B Preferred Stock. The new rate, which represents an increase of 0.5%, will be equivalent to a conversion price of approximately $46.01 per common share.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 March 15, 2012, to shareholders of record as of 5:00 p.m. Eastern Time on March 1, 2012.
For a dividend history and other dividend-related data on Universal Corp. (UVV) click here.
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