RICHMOND, Va., May 25, 2022 /PRNewswire/ -- George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation (NYSE:UVV), announced today that the Company's Board of Directors declared a quarterly dividend of seventy-nine cents ($0.79) per share on the common shares of the Company, payable August 1, 2022, to common shareholders of record at the close of business on July 11, 2022. This increase indicates an annualized rate of $3.16 per common share and a yield of approximately 5% based on the $60.22 closing price on May 23, 2022.

Mr. Freeman noted, "Increasing our dividend remains a key tenant of our capital allocation strategy. We have raised our common dividend every year since 1971. This is our 52^nd consecutive annual dividend increase, and I am very proud of this achievement."

The Board of Directors set the date of the Annual Meeting of Shareholders as Tuesday, August 2, 2022. It will be held at 11:00 a.m. at the Company's headquarters building. The Board of Directors set the record date for the Annual Meeting of Shareholders as June 7, 2022.

Universal Corporation (NYSE:UVV), headquartered in Richmond, Virginia, is a global business-to-business agri-products supplier to consumer product manufacturers, operating in over 30 countries on five continents. We strive to be the supplier of choice for our customers by leveraging our farmer base, our commitment to a sustainable supply chain, and our ability to provide high-quality, customized, traceable, value-added agri-products essential for our customers' requirements. We find innovative solutions to serve our customers and have been meeting their agri-product needs for more than 100 years. Our principal focus since our founding in 1918 has been tobacco, and we are the leading global leaf tobacco supplier. Through our plant-based ingredients platform, we provide a variety of value-added manufacturing processes to produce high-quality, specialty vegetable- and fruit-based ingredients as well as botanical extracts and flavorings for the food and beverage end markets. For more information, visit www.universalcorp.com.

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Universal Corporation Announces 52nd Annual Dividend Increase and Sets Annual Meeting Date