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Universal Corporation Announces Quarterly Dividends and Adjustment to Conversion Rate 

George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation (NYSE: UVV), announced today that the Company's Board of Directors declared a quarterly dividend of forty-seven cents ($0.47) per share on the common shares of the Company, payable May 10, 2010, to common shareholders of record at the close of business on April 12, 2010.

In addition, the Board of Directors declared a quarterly dividend of $16.875 per share on the Series B 6.75% Convertible Perpetual Preferred Stock ("Series B Preferred Stock"), payable March 15, 2010, to shareholders of record as of 5:00 p.m. Eastern Time on March 1, 2010.

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