The chief executive officer of Alliance One International received a 32.4 percent increase in total compensation during fiscal year 2018, according to a filing Monday with the Securities and Exchange Commission.

J. Peter Sikkel received $1.47 million in total compensation during the 2018 fiscal year, up from the $1.11 million in total compensation he received in the previous fiscal year.

His base salary for both years was $642,000. And his stock awards fell to $220,313 in fiscal year 2018 from $358,090.

However, Sikkel received $529,575 in nonequity incentive plan compensation in 2018 after not receiving any such compensation the previous year.

Alliance One International, which provides tobacco to cigarette manufacturers, disclosed plans in February to expand its business into e-liquids, industrial hemp and cannabis.

The Morrisville, North Carolina-based company believes these new products generally have higher margin potential than their core business and will play well to the company’s strengths.

Since then, the company has purchased operations in those business lines.

The company reported revenue of $1.8 billion in fiscal year 2018, which ended March 31, up from revenue of $1.7 billion in fiscal year 2017.

Net income from continuing operations was $51.9 million in fiscal year 2018 compared to a loss of $63.3 million in fiscal year 2017.

The company’s shares were trading at $15.30, down $1.10, or 6.7 percent, in Monday afternoon trading.

Alliance One’s annual meeting will be held on Aug. 16 at 10 a.m. at the Hamner Conference Center, North Carolina Auditorium, 15 T.W. Alexander Drive in Research Triangle Park.