Earnings Per Share (Tables)

3 Months Ended

Jun. 30, 2011

Earnings Per Share

Computation Of Basic And Diluted Earnings Per Share

	Three Months Ended June 30,
(in thousands, except per share data)	2011			2010
Basic Earnings Per Share
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$	15,888		$	25,320
Less:  Dividends on convertible perpetual preferred stock		(3,712	)		(3,712	)
Earnings available to Universal Corporation common shareholders
for calculation of basic earnings per share		12,176			21,608
Denominator for basic earnings per share
Weighted average shares outstanding		23,194			24,213
Basic earnings per share	$	0.52		$	0.89
Diluted Earnings Per Share
Numerator for diluted earnings per share
Earnings available to Universal Corporation common shareholders	$	12,176		$	21,608
Add:  Dividends on convertible perpetual preferred stock (if
conversion assumed)		—			3,712
Earnings available to Universal Corporation common shareholders
for calculation of diluted earnings per share		12,176			25,320
Denominator for diluted earnings per share:
Weighted average shares outstanding		23,194			24,213
Effect of dilutive securities (if conversion or exercise assumed)
Convertible perpetual preferred stock		—			4,742
Employee share-based awards		319			260
Denominator for diluted earnings per share		23,513			29,215
Diluted earnings per share	$	0.52		$	0.87