Universal Corporation (UVV) Board Initiates Share Repurchase Program

Universal Corporation (NYSE:UVV) declared that its board has authorized a stock repurchase program, which authorizes the company to buyback $100.00 million in shares on Tuesday, November 7th, EventVestor reports. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Separately, BidaskClub raised Universal Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th.

Universal Corporation (UVV) opened at $56.70 on Friday. The company has a current ratio of 5.60, a quick ratio of 2.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1,376.27, a price-to-earnings ratio of 12.57 and a beta of 1.42. Universal Corporation has a 1 year low of $52.35 and a 1 year high of $83.35.

Universal Corporation (NYSE:UVV) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.02 earnings per share (EPS) for the quarter. Universal Corporation had a return on equity of 14.16% and a net margin of 5.56%. The business had revenue of $488.25 million for the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Monday, January 8th will be issued a dividend of $0.55 per share. This is a boost from Universal Corporation’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Friday, January 5th. This represents a $2.20 annualized dividend and a dividend yield of 3.88%. Universal Corporation’s dividend payout ratio (DPR) is 150.00%.

In other news, Director John B. Adams, Jr. sold 611 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $58.45, for a total transaction of $35,712.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James A. Huffman sold 3,107 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $58.35, for a total value of $181,293.45. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

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Universal Corporation Company Profile

Universal Corporation is a leaf tobacco supplier. The Company is engaged in procuring, financing, processing, packing, storing and shipping leaf tobacco for sale to manufacturers of consumer tobacco products. The Company’s segments include North America, South America, Africa, Europe, Asia, Dark Air-Cured, Oriental and Special Services.

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