Universal Corporation Announces Dividend of $.48

George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation UVV, announced today that the Company's Board of Directors declared a quarterly dividend of forty-eight cents ($0.48) per share on the common shares of the Company, payable May 9, 2011, to common shareholders of record at the close of business on April 11, 2011. 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, 2011, to shareholders of record as of 5:00 p.m. Eastern Time on March 1, 2011.