Universal Corporation (NYSE:UVV) is included among the 12 Best Stocks to Buy Now for Passive Income.
Universal Corporation is a global agricultural company with more than 100 years of experience, providing high-quality products and customized solutions to meet customer needs. Its extensive network of farmers and partners spans over 30 countries across five continents, earning it a reputation for delivering reliable and traceable agricultural goods.
In the Q1 2025 earnings report, CEO Preston Douglas Wigner noted that flue-cured and burley crop sizes are much larger this year, with green tobacco purchases largely finished in Brazil and Africa. He projected that supply levels should become more balanced during the fiscal year, though an oversupply could emerge by year-end. Wigner also emphasized that customer demand has stayed strong despite the larger harvests, adding that uncommitted tobacco stocks were relatively low, representing about 11% of total inventory as of June.
In addition, Universal Corporation is popular among income investors as the company is a Dividend King. It has raised its dividends for 55 years in a row, which makes UVV one of the best stocks for passive income. The company pays a quarterly dividend of $0.82 per share and has a dividend yield of 5.99%, as of September 22.
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