Universal Corp reports FY2024 revenue up 7% to $2.75B, adjusted EPS up 35%; declares 54th annual dividend increase

UNIVERSAL CORP /VA/

2024-FY EPS reported $4.78 revenue$2,721,644,000

FY2024 revenue $2,748.6M (+7% YoY); gross margin improved 167 bps to 19.50%.
Reported diluted EPS $4.78 (-4% YoY); adjusted diluted EPS $5.08 (+35% YoY).
Tobacco operations operating income $222.4M (+29%); Ingredients operating income $3.9M (-63%).
Quarterly dividend raised to $0.81/share ($3.24 annualized), payable Aug 5, 2024; yield ~6.08%.
Lancaster expansion on track for full ops in H2 FY2025; accelerated buying in Brazil due to tight supply.

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