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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: May 6, 1998
(Date of earliest event reported)
UNIVERSAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Virginia 1-652 54-0414210
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
1501 North Hamilton Street
Richmond, Virginia 23230
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(804) 359-9311
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Item 5. Other Events.
The press release issued by the Registrant on May 6, 1998 and attached
hereto as Exhibit 99 is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
99 Press release issued by the Registrant on May 6, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
UNIVERSAL CORPORATION
(Registrant)
Date: May 7, 1998 By: /s/ William J. Coronado
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William J. Coronado
Controller
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Exhibit Index
Number Document
99 Press release issued by the Registrant on May 6, 1998.
Exhibit 99
UNIVERSAL CORPORATION NEWS
P.O. Box 25099 Phone: (804)359-9311
Richmond, VA 23260 Fax: (804)254-3584
Contact: Release:
KAREN M. L. WHELAN May 6, 1998
(804)359-9311 6:00 P.M. EDT
UNIVERSAL CORPORATION ANNOUNCES STOCK REPURCHASE AND
QUARTERLY DIVIDEND
RICHMOND, VA May 6, 1998/PRNEWSWIRE/----
Henry H. Harrell, Chairman and Chief Executive Officer of Universal
Corporation announced that the company's Board of Directors has approved the
repurchase of up to $100 million of Universal common stock. Mr. Harrell
explained that improving shareholder value is a continuing objective of the
company and that this step is one of a number of actions that the company has
taken in response to record earnings and strong free cash flow. Other actions
have included managing debt structure, increasing dividends, and significantly
expanding the company's businesses. The authorized purchases may be made from
time to time on the open market or in privately negotiated transactions at
prices not exceeding prevailing market rates. Universal currently has
approximately 35.3 million common shares outstanding.
In other business, the Board declared a quarterly dividend of
twenty-eight cents ($.28) per share on the common shares of the Company, payable
August 3, 1998, to common shareholders of record at the close of business on
July 13, 1998.
Universal Corporation is a diversified company with operations in
tobacco, lumber, and agri-products. Its gross revenues for the fiscal year that
ended on June 30, 1997, were approximately $4.1 billion.
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