Universal Corporation

Universal Corporation (NYSE: UVV) is one of the world's leading tobacco merchants. Incorporated in 1918, Universal is headquarters in Richmond, Virginia, in the United States.

Universal Corporation
Traded asNYSE: UVV
S&P 600 Component
ISINUS9134561094 
Founded1918 
HeadquartersRichmond, Virginia[1]
Websitewww.universalcorp.com/ 

Current operations

Universal buys, sells, and processes flue-cured and burley tobacco. It also holds a 49% interest in Socotab, LLC, a large dealer in oriental leaf tobaccos. The company does not manufacture cigarettes or other consumer tobacco products, although its largest customer is Altria Group (owner of Philip Morris USA).

Universal common stock is part of the S&P 600 index.

History

After the 1911 breakup of the American Tobacco Company trust, Jacquelin (sic) P. Taylor incorporated Universal out of six formerly independent leaf merchants.

In 2010, Universal along with Alliance One International were accused of violations of the Foreign Corrupt Practices Act of 1977. The company is alleged to have paid US$10,000 to the wife of an official in the Mozambique Ministry of Agriculture to secure favorable tax treatment in that country. In 2010, Universal paid about $10 million in restitution and penalties to settle the charges.

On January 3, 2020 Universal purchased FruitSmart.[2]

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gollark: As far as I know, the only person who is likely to have actually worked out how my compressor works is Olive, but I assure you that it's moderately weird.
gollark: That and the giant binary blobs.
gollark: LyricLy claims that it was obviously mine because of the formatting and use of numpy. This is wrong and ridiculous. The real reason it was obviously mine is that it does the usual gollark thing of just implementing a weird algorithm and not doing much else.
gollark: They scheduled it for 24 hours, bee.

References
  1. "Universal". Fortune. Retrieved February 22, 2019.
  2. "Universal Completes Acquisition of FruitSmart". Fidelity Investments. January 3, 2020. Retrieved January 6, 2020.


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