Share Repurchase Program Initiated by Universal (NYSE:UVV)

Universal (NYSE:UVV) declared that its board has initiated a share repurchase program on Thursday, November 7th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Universal Stock Performance

Shares of NYSE UVV traded down $1.61 during midday trading on Thursday, reaching $52.04. 132,691 shares of the stock were exchanged, compared to its average volume of 197,557. The firm has a 50-day simple moving average of $51.76 and a two-hundred day simple moving average of $50.90. Universal has a twelve month low of $45.19 and a twelve month high of $67.80. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 10.71 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.43.

Universal (NYSE:UVV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $597.05 million for the quarter. Universal had a net margin of 4.31% and a return on equity of 8.92%.

Universal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 6.23%. Universal’s dividend payout ratio is currently 66.67%.

Universal Company Profile

Universal Corporation processes and supplies leaf tobacco and plant-based ingredients worldwide. The company operates through two segments, Tobacco Operations; and Ingredients Operations. It is involved in the procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products.