Leaf tobacco supplier Universal Corporation (UVV) will raise its quarterly dividend by 1.3 percent to $0.76 per share in 2019. This follows a 36.4 percent dividend increase last year, marking 48 consecutive years of higher dividends paid.

The next dividend is payable on August 5, 2019, to common shareholders of record at the close of business on July 8, 2019. A new annual rate of $3.04 per share yields 5.3% at a stock price of $57.53.

George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation noted, "We continually evaluate opportunities to return capital to our shareholders and are proud to announce our 49th consecutive annual common dividend increase today.  We have raised our common dividend every year since 1971."

Universal Corporation is a leaf tobacco supplier. The Company is engaged in procuring, financing, processing, packing, storing and shipping leaf tobacco for sale to manufacturers of consumer tobacco products. Headquartered in Richmond, Virginia, Universal Corporation operates in more than 30 countries spanning five continents.