================================================================================


                       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: May 6, 1998
                        (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     (Commission File Number)       (IRS Employer
      of Incorporation)                                      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


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<PAGE>


Item 5.      Other Events.

         The press release  issued by the Registrant on May 6, 1998 and attached
hereto as Exhibit 99 is incorporated herein by reference.


Item 7.      Financial Statements, Pro Forma Financial Information and Exhibits.

      (c)    Exhibits.

             99    Press release issued by the Registrant on May 6, 1998.





                                      -2-
<PAGE>

                                   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:  May 7, 1998                          By:  /s/ William J. Coronado
                                                 -----------------------
                                                     William J. Coronado
                                                     Controller





<PAGE>


                                  Exhibit Index

Number            Document

99          Press release issued by the Registrant on May 6, 1998.
[{"type": "8-K", "sequence": "1", "description": "8-K FILED BY UNIVERSAL CORPORATION", "secsgml_size_bytes": 2574}]
{"company-data": {"conformed-name": "UNIVERSAL CORP /VA/", "cik": "0000102037", "assigned-sic": "5150", "irs-number": "540414210", "state-of-incorporation": "VA", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-00652", "film-number": "98612363"}, "business-address": {"street1": "P O BOX 25099", "street2": "1501 N HAMILTON ST", "city": "RICHMOND", "state": "VA", "zip": "23230", "phone": "8043599311"}, "mail-address": {"street1": "PO BOX 25099", "city": "RICHMOND", "state": "VA", "zip": "23260"}, "former-company": {"former-conformed-name": "UNIVERSAL LEAF TOBACCO CO INC", "date-changed": "19880314"}}
================================================================================

                       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: May 6, 1998
                        (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     (Commission File Number)       (IRS Employer
      of Incorporation)                                      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

================================================================================
Item 5.      Other Events.

         The press release  issued by the Registrant on May 6, 1998 and attached
hereto as Exhibit 99 is incorporated herein by reference.

Item 7.      Financial Statements, Pro Forma Financial Information and Exhibits.

      (c)    Exhibits.

             99    Press release issued by the Registrant on May 6, 1998.

                                      -2-
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:  May 7, 1998                          By:  /s/ William J. Coronado
                                                 -----------------------
                                                     William J. Coronado
                                                     Controller
Exhibit Index

Number            Document

99          Press release issued by the Registrant on May 6, 1998.