Universal Corporation declared a quarterly dividend of 76c per share on the common shares of the company, payable August 5 to common shareholders of record at the close of business on July 8. This increase indicates an annualized rate of $3.04 per common share and a yield of approximately 6% based on the $51.35 closing price on May 21.
Universal Corporation (UVV) subsidiary Universal Leaf Philippines will be increasing its purchases of leaf tobaccos in the Philippines, as part of a new leaf supply arrangement for the Philippines with Philip Morris (PM) International Management. Previously, PMFTC, an affiliate of PMIMSA, purchased certain quantities of leaf tobaccos produced by their own contracted grower base and processed that tobacco in their own facility. Starting with the 2019 crop, PMFTC will purchase processed grades of tobacco from ULPI.