Exhibit 12

UNIVERSAL CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

	Fiscal Year Ended March 31,
	2013		2012		2011		2010		2009
	(in thousands, except for ratios)
Earnings
Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates	$	201,650	$	158,783	$	234,265	$	234,252	$	176,606
Fixed charges (net of interest capitalized)	25,646		26,882		27,845		29,226		40,797
Distribution of earnings from unconsolidated affiliates	123		16,724		—		11,983		8,680
Total Earnings	$	227,419	$	202,389	$	262,110	$	275,461	$	226,083
Fixed Charges and Preference Dividends
Interest expense	$	22,013	$	22,835	$	23,058	$	24,210	$	35,631
Interest capitalized	—		—		—		—		—
Amortization of premiums, discounts, and debt issuance costs	1,343		1,334		1,260		1,837		948
Interest component of rent expense	2,290		2,713		3,527		3,179		4,218
Total Fixed Charges	25,646		26,882		27,845		29,226		40,797
Dividends on convertible perpetual preferred stock (pretax)	22,846		22,846		22,846		22,846		22,846
Total Fixed Charges and Preference Dividends	$	48,492	$	49,728	$	50,691	$	52,072	$	63,643
Ratio of Earnings to Fixed Charges	8.87		7.53		9.41		9.43		5.54
Ratio of Earnings to Combined Fixed Charges and Preference Dividends	4.69		4.07		5.17		5.29		3.55