Universal Corp. raises dividend for 44th consecutive time
Richmond-based Universal Corp. has increased its quarterly dividend on its common stock by 1 cent to 52 cents a share.
The move marks the 44th consecutive dividend increase for the leaf tobacco company.
The dividend is payable Feb. 9 to common shareholders of record at the close of business on Jan. 12.
The dividend increase represents an annualized rate of $2.08 per share and a yield of approximately 4.6 percent based on the $44.76 closing price on Nov. 5.
Universal operates in more than 30 countries. Its revenues for the fiscal year ended March 31 were $2.5 billion.