Universal (NYSE:UVV) to Buyback $100.00 million in Shares

Universal (NYSE:UVV) announced that its board has authorized a share buyback program on Thursday, November 7th, RTT News reports. The company plans to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire 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 Trading Down 3.0 %

Shares of UVV stock traded down $1.61 on Thursday, hitting $52.04. 132,691 shares of the company’s stock traded hands, compared to its average volume of 197,557. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 2.60. Universal has a one year low of $45.19 and a one year high of $67.80. The company’s fifty day simple moving average is $51.76 and its 200 day simple moving average is $50.90. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.71 and a beta of 0.77.

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

Universal Announces Dividend

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