Universal Corporation Announces 47th Annual Dividend Increase and Share Repurchase Program

RICHMOND, Va., Nov. 7, 2017

Mr. Freeman noted, "As we approach our 100^th anniversary, we are proud to continue to deliver value to our shareholders, and dividends are one of the main ways we accomplish that.  Today's increase is our 47^th consecutive annual common dividend increase.  We have raised our common dividend every year since 1971."

In addition, Mr. Freeman announced that the Company's Board of Directors has approved a program for the repurchase of up to $100 million of Universal Corporation shares of 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 25.1 million common shares outstanding.

Headquartered in Richmond, Virginia, Universal Corporation is the leading global leaf tobacco supplier and conducts business in more than 30 countries.  Its revenues for the fiscal year ended March 31, 2017, were $2.1 billion. For more information on Universal Corporation, visit its website at www.universalcorp.com.

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