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Article: Universal Corporation Announces Share Repurchase Program and 39th Annual Dividend Increase.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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George C. Freeman, Chairman, President, and Chief Executive Officer of Universal Corporation (NYSE:UVV), announced that the Company's Board of Directors approved a program for the repurchase of up to $150 million of Universal Corporation common stock. The authorized purchases may be made from time to time on the open market or in privately negotiated transactions at prices not exceeding prevailing market rates. Universal currently has approximately 24.7 million common shares outstanding.
In addition, Mr. Freeman announced that the Board of Directors has increased the regular quarterly dividend on the common shares of the Company by one cent to forty-seven cents ...