UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
−Removed: As indicated in the following table, we repurchased shares of our common stock during the three-month period ended September 30, 2022:
+Added: As indicated in the following table, we did not repurchase shares of our common stock during the three-month period ended December 31, 2022:
Total Number of Shares Repurchased Average Price Paid Per Share (2)
1 unchanged sentence
Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (3)
−Removed: July 1-31, 2022 3,568 $ 52.99 3,568 $ 96,757,603
−Removed: August 1-31, 2022 62,556 52.10 62,556 93,498,277
−Removed: September 1-30, 2022 — — — 93,498,277
+Added: October 1-31, 2022 — $ — — $ 93,498,277
+Added: November 1-30, 2022 — — — 100,000,000
+Added: December 1-31, 2022 — — — 100,000,000
Total — $ — — $ 100,000,000
4 unchanged sentences
This stock repurchase plan authorized the purchase of up to $100 million in common and/or preferred stock in open market or privately negotiated transactions through November 15, 2024 or when funds for the program have been exhausted, subject to market conditions and other factors.
−Removed: The program had $93 million of remaining capacity for repurchases of common and/or preferred stock at September 30, 2022.
−Removed: This stock repurchase program was replaced on November 2, 2022 when the Company's Board of Directors authorized a new stock repurchase plan up to $100 million in common and/or preferred stock through November 15, 2024 or when funds for the program have been exhausted, subject to market conditions and other factors.
Our current dividend policy anticipates the payment of quarterly dividends in the future.
2 unchanged sentences
If we were not in compliance with them, these financial covenants could restrict our ability to pay dividends.
−Removed: We were in compliance with all such covenants at September 30, 2022.
+Added: We were in compliance with all such covenants at December 31, 2022.
+Added: 10.1 Credit Agreement dated December 15, 2022 among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents.
+Added: Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K, as filed on December 16, 2022.
31.1 Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*
11 unchanged sentences
UNIVERSAL CORPORATION
−Removed: November 3, 2022 /s/ Johan C.
+Added: February 8, 2023 /s/ Johan C.
Kroner, Senior Vice President and Chief Financial Officer
(Principal Financial Officer)
−Removed: November 3, 2022 /s/ Scott J.
+Added: February 8, 2023 /s/ Scott J.
Bleicher, Vice President and Controller
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.