8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report: August 5, 2008

(Date of earliest event reported)

UNIVERSAL CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Virginia	1-652	54-0414210
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1501 North Hamilton Street Richmond, Virginia	23230
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code:

(804) 359-9311

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principle Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

On August 5, 2008, the Registrant’s Board of Directors elected George C. Freeman, III, as Chairman of the Board of Directors with immediate effect. Mr. Freeman’s current compensation is described in the Registrant’s proxy statement for the 2008 annual meeting of shareholders as filed with the Securities and Exchange Commission on June 25, 2008. There were no changes to his compensation in connection with his election. The Registrant and Mr. Freeman are parties to an Employment Agreement dated November 17, 2006. There were no amendments to the Employment Agreement in connection with his election. A detailed description of the terms of the Employment Agreement with Mr. Freeman was included in the Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 24, 2006.

In addition, on August 5, 2008, the Registrant’s Board of Directors elected W. Keith Brewer as Executive Vice President and Chief Operating Officer with immediate effect. Mr. Brewer’s current compensation is described in the Registrant’s proxy statement for the 2008 annual meeting of shareholders as filed with the Securities and Exchange Commission on June 25, 2008. There were no changes to his compensation in connection with his election. The Registrant and Mr. Brewer are parties to an Employment Agreement dated November 17, 2006. There were no amendments to the Employment Agreement in connection with his election. A detailed description of the terms of the Employment Agreement with Mr. Brewer was included in the Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 24, 2006.

A copy of the press release announcing these elections is filed as Exhibit 99.1 to this report.

Item 8.01. Other Events.

On August 5, 2008, the Registrant issued a press release announcing quarterly dividends for the Registrant’s common stock and preferred stock. The press release is furnished as Exhibit 99.2 to this Report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

No.	Description
99.1	Press release dated August 5, 2008, announcing Chairman and Chief Operating Officer elections.*
99.2	Press release dated August 5, 2008, announcing quarterly dividends.*

* Filed Herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	UNIVERSAL CORPORATION
	(Registrant)
Date: August 5, 2008	By:	/s/ Preston D. Wigner
		Preston D. Wigner
		Vice President, General Counsel and Chief Compliance Officer

Exhibit Index

Exhibit Number	Document
99.1	Press release dated August 5, 2008, announcing Chairman and Chief Operating Officer elections.*
99.2	Press release dated August 5, 2008, announcing quarterly dividends.*

* Filed Herewith

EX-99.1

EXHIBIT 99.1

P.O. Box 25099 Richmond, VA 23260 Ÿ phone: (804) 359-9311 Ÿ fax (804) 254-3594

PRESS RELEASE

CONTACT	RELEASE
Karen M. L. Whelan	Immediately
Phone:    (804) 359-9311
Fax:         (804) 254-3594
Email:      investor@universalleaf.com

FREEMAN AND BREWER NAMED TO UNIVERSAL’S TOP SPOTS

Richmond, VA, August 5, 2008 / PRNEWSWIRE

Universal Corporation’s Board of Directors has elected George C. Freeman, III, currently President and Chief Executive Officer, to succeed Allen B. King as Chairman of the Board, with immediate effect. Mr. King had previously announced his intention to retire at this year’s Annual Meeting. He did not stand for reelection to the Board and has been named Chairman Emeritus. The Board also elected W. Keith Brewer to the post of Executive Vice President, Chief Operating Officer.

Mr. Freeman has been with the Company since 1997. Prior to that time, he was with Hunton & Williams, an international law firm. Mr. Freeman was elected General Counsel and Secretary of the Company in February 2001, and Vice President on November 9, 2005. He was elected President on December 13, 2006, and became Chief Executive Officer on April 1, 2008.

Mr. Brewer has over 30 years of experience with Universal and has led the Company’s global tobacco operations since 2006. Prior to that time, he served as the Company’s International Processing Director for nine years before being named President of Universal Leaf North America U.S., Inc. in 2002. In that role, he oversaw the Company’s North American operations.

Mr. King has been with the Company since 1969. He became President and Chief Executive Officer of the Company on January 1, 2003, and was elected Chairman of the Board of Directors of the Company on October 28, 2003.

Mr. Freeman noted, “I am honored that the Board of Directors has selected me as Chairman. I have worked closely with Allen King for many years, and during this time, we have had a truly unique relationship. We congratulate him on an outstanding career and wish him a long, healthy and happy retirement. In addition, I am pleased that Keith Brewer will now formally serve as Chief Operating Officer of the Company. It is a role that he has filled informally for the last two years. He is a wonderful leader, a supportive colleague, and a good friend who embodies Universal’s best values.”

Headquartered in Richmond, Virginia, Universal Corporation is one of the world’s leading tobacco merchants and processors and conducts business in more than 35 countries. Its revenues from continuing operations for the fiscal year ended March 31, 2008, were $2.1 billion. For more information on Universal Corporation, visit its web site at www.universalcorp.com.

# # #

EX-99.2

EXHIBIT 99.2

P.O. Box 25099 Richmond, VA 23260 Ÿ phone: (804) 359-9311 Ÿ fax (804) 254-3594

PRESS RELEASE

CONTACT	RELEASE
Karen M. L. Whelan	Immediately
Phone:    (804) 359-9311
Fax:         (804) 254-3594
Email:      investor@universalleaf.com

Universal Corporation Announces Quarterly Dividends

Richmond, VA • August 5, 2008 / PRNEWSWIRE

George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation (NYSE:UVV), announced today that the Company’s Board of Directors declared a quarterly dividend of forty-five cents ($0.45) per share on the common shares of the Company, payable November 10, 2008, to common shareholders of record at the close of business on October 14, 2008.

In addition, the Board of Directors declared a quarterly dividend of $16.875 per share on the Series B 6.75% Convertible Perpetual Preferred Stock (“Series B Preferred Stock”), payable September 15, 2008, to shareholders of record as of 5:00 p.m. Eastern Time on September 1, 2008.

Headquartered in Richmond, Virginia, Universal Corporation is one of the world’s leading tobacco merchants and processors and conducts business in more than 35 countries. Its revenues from continuing operations for the fiscal year ended March 31, 2008, were $2.1 billion. For more information on Universal Corporation, visit its web site at www.universalcorp.com.

# # #