Fresh Del Monte Produce, Inc. (NYSE:FDP) Announces $0.30 Quarterly Dividend

Key Points

• $0.30 quarterly dividend announced; shareholders of record on May 19 will be paid on June 11, with a yield of about 2.9%.
• Fresh Del Monte has raised its dividend annually for five consecutive years and carries a 40.3% payout ratio, suggesting the dividend is covered by earnings.
• Latest quarter: EPS $0.70 vs. $0.28 expected (revenue $968.2M missed estimates); the stock trades near $41.89 with a market cap of about $1.99B and a P/E of ~22.3.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Investors of record on Tuesday, May 19th will be paid a dividend of 0.30 per share on Thursday, June 11th. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 19th.

Fresh Del Monte Produce has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Fresh Del Monte Produce has a dividend payout ratio of 40.3% indicating that its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Trading Up 0.2%

Shares of NYSE:FDP opened at $41.89 on Wednesday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 22.28 and a beta of 0.28. Fresh Del Monte Produce has a 1-year low of $31.43 and a 1-year high of $43.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 2.16. The company has a 50 day moving average price of $41.74 and a 200 day moving average price of $38.45.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.42. The firm had revenue of $968.20 million during the quarter, compared to analysts' expectations of $1.01 billion. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.

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