Fresh Del Monte Produce Inc. (NYSE:FDP) Announces Dividend Increase – $0.30 Per Share

Fresh Del Monte Produce Inc. (NYSE:FDP) declared a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Monday, March 10th will be paid a dividend of 0.30 per share on Friday, March 28th. This represents a $1.20 dividend on an annualized basis and a yield of 4.00%. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25.

Fresh Del Monte Produce has increased its dividend payment by an average of 26.0% per year over the last three years.

Fresh Del Monte Produce Stock Down 2.9 %

Shares of NYSE:FDP opened at $29.98 on Tuesday. The company has a market capitalization of $1.44 billion, a PE ratio of 90.85 and a beta of 0.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The company’s fifty day moving average is $31.63 and its 200-day moving average is $30.97. Fresh Del Monte Produce has a 52 week low of $21.23 and a 52 week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.