Universal Corporation Appoints New Director and Declares Quarterly Dividend

Strategic Insights -

Universal Corporation, a global agri-products supplier to consumer product manufacturers, has announced the appointment of Arthur J. Schick, Jr., a 35-year veteran of PepsiCo, Inc., to its Board of Directors. This appointment is effective April 1, 2023, at which time the Board will expand to nine directors, eight of whom are independent. Mr. Schick brings a wealth of experience in the ingredients and value-added supplier space, with expertise in strategic supplier development, procurement, operations, international supply chain management, and product research and development.

The Company also declared a quarterly dividend of seventy-nine cents ($0.79) per share on its common shares, payable May 1, 2023, to common shareholders of record at the close of business on April 10, 2023. This move reflects the Company's commitment to returning value to its shareholders while continuing to invest in its growth initiatives.

Key Takeaways:

  • Universal Corporation has appointed Arthur J. Schick, Jr. to its Board of Directors, effective April 1, 2023.
  • Mr. Schick is a 35-year veteran of PepsiCo, Inc., with expertise in strategic supplier development, procurement, operations, international supply chain management, and product research and development.
  • The Company's Board will expand to nine directors, eight of whom are independent, upon Mr. Schick's appointment.
  • Universal Corporation has declared a quarterly dividend of seventy-nine cents ($0.79) per share, payable May 1, 2023, to common shareholders of record at the close of business on April 10, 2023.
  • The Company's principal focus has been tobacco, and it is the leading global leaf tobacco supplier.
  • Universal Corporation operates in over 30 countries on five continents and provides value-added manufacturing processes for high-quality, specialty vegetable-and-fruit-based ingredients as well as botanical extracts and flavorings for the food and beverage end markets.
  • The Company's commitment to a sustainable supply chain and high-quality agri-products has enabled it to meet customer needs for over 100 years.
  • Arthur J. Schick, Jr. will bring valuable insights and perspectives to the Board, particularly in the area of plant-based ingredients.

Statistics:

  • 35 years: Mr. Schick's tenure at PepsiCo, Inc.
  • 8: The number of independent directors on the Universal Corporation Board after Mr. Schick's appointment
  • 9: The total number of directors on the Universal Corporation Board after Mr. Schick's appointment
  • 79 billion: PepsiCo, Inc.'s global market value
  • $0.79: The quarterly dividend per share
  • 30: The number of countries in which Universal Corporation operates
  • 5: The number of continents on which Universal Corporation operates
  • 100: The number of years Universal Corporation has been meeting customer agri-product needs

Sources:

  • Universal Corporation's Form 8-K filing (February 1, 2023)
  • Universal Corporation's press release (February 1, 2023)
  • Universal Corporation's annual report (2022)
  • COMTEX 2023 (February 1, 2023)
  • Cybernet Data Systems, Inc. (2023)