RICHMOND, Va. - Universal Corporation (NYSE: UVV), a leading global agri-products company with a market capitalization of $1.46 billion and a strong financial health rating according to InvestingPro, announced the appointment of Fay Manolios to its Board of Directors, effective June 1, 2025. This strategic move comes as the company prepares for the retirement of Michael T. Lawton, a seasoned independent director who will step down at the Annual Meeting of Shareholders on August 5, 2025, after nine years of service. During his tenure, the company has maintained its impressive 33-year streak of consecutive dividend increases, currently offering a substantial 5.53% yield.
Manolios, a veteran in strategy development and human resources, has over 25 years of experience, including a decade at Capital One Financial Corporation. Her recent role as Managing Vice President, Head of Total Rewards, saw her successfully implement a comprehensive five-year plan. She also serves on the board of VCU Health, an academic medical center.
Chairman, President, and CEO of Universal, Preston D. Wigner, expressed confidence in Manolios’s expertise, particularly her understanding of human resources, which is anticipated to support Universal’s strategic initiatives within its tobacco and ingredients businesses.
Fay Manolios expressed her enthusiasm about joining the Board and contributing to Universal’s strategic priorities and initiatives.
Wigner also acknowledged Lawton’s contributions, especially his leadership on the Audit Committee, and wished him well in his retirement.
Lawton reflected positively on his tenure, noting Universal’s strong performance and strategic developments, including the creation of the Ingredients Operations segment.
Universal Corporation prides itself on being a reliable supplier of high-quality, traceable products through a vast network of farmers and partners worldwide. With over a century of experience, the company emphasizes sustainability and efficiency in its operations, delivering strong results with a 12.88% revenue growth in the last twelve months. Trading at a P/E ratio of 11.66 and near its 52-week high, detailed analysis and additional insights are available through InvestingPro’s comprehensive research reports, which cover over 1,400 US stocks.
The information in this article is based on a press release statement from Universal Corporation.
In other recent news, Universal Corporation announced an increase in its quarterly dividend to $0.82 per share. This dividend will be payable on August 4, 2025, to shareholders on record as of July 14, 2025, reflecting an annualized rate of $3.28 per share. The company’s Chairman, President, and CEO, Preston D. Wigner, expressed satisfaction with this 55th annual dividend increase, attributing it to the company’s operational excellence and reliable performance. Additionally, Universal Corporation has set the date for its 2025 Annual Meeting of Shareholders on August 5, 2025. The meeting will be held at Universal’s headquarters, with the record date for voting eligibility set for June 5, 2025. These developments highlight Universal Corporation’s continued focus on returning value to its shareholders.
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