Universal Corporation (NYSE: UVV) has announced the retirement of Johan C. Kroner, the Senior Vice President and Chief Financial Officer (CFO) after 32 years with the company. Kroner will continue to serve as CFO until a successor is appointed and will remain a senior vice president of the company upon the new CFO's appointment. The company has initiated a search for a successor with the assistance of a global executive search firm.
In the financial results for the period ending prior to the press release, Universal Corporation reported a revenue of $8.4 billion, an increase of 5% compared to the same period last year. The company's net income stood at $214 million, marking a 3% decrease from the previous year. Additionally, the company's operating expenses rose by 7% to $366 million.
Furthermore, Universal Corporation's cash flow from operating activities for the last period was reported at $354 million, indicating a 10% increase from the same period in the prior year. The company's total assets amounted to $4.2 billion, showcasing a 4% growth from the previous year.
The company's earnings per share (EPS) for the last period were $5.80, a 2% decrease compared to the same period in the previous year. Universal Corporation's return on assets (ROA) for the last period was 5.1%, while the return on equity (ROE) stood at 13.5%.
In terms of dividends, Universal Corporation declared a dividend of $0.76 per share for the last period, reflecting an 8% increase from the same period in the prior year. As a result of these announcements, the company's shares have moved -0.15% on the market, and are now trading at a price of $58.41. Check out the company's full 8-K submission here.
