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

Fresh Del Monte Produce Inc. (NYSE:FDP) announced a quarterly dividend on Monday, February 24th, RTT News reports. Investors 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 dividend yield of 4.00%. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25.

Fresh Del Monte Produce has raised 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. Fresh Del Monte Produce has a 52 week low of $21.23 and a 52 week high of $35.27. 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 has a 50 day moving average price of $31.63 and a two-hundred day moving average price of $30.97.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.26 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 earned $0.25 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are 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.