Universal Corporation increases dividend for 45th straight year
The quarterly dividend will be raised by $0.01 to $0.53 per share, following the trend of one cent increases in the previous years.
The leaf tobacco supplier has now raised it's dividend for 45 consecutive years. "At Universal, we work hard to deliver value to our shareholders, and dividends are one of the principal ways in which we do that. Today's increase is our 45th consecutive annual common dividend increase. We have raised our common dividend every year since 1971." (CEO George C. Freeman, III).
Universal Corp currently has a prospective dividend yield of 4.2% based on Thursday's closing price of $53.95.
Source: Universal Corporation