Fresh Del Monte Produce Inc. (NYSE:FDP) Announces Quarterly Dividend of $0.25

Fresh Del Monte Produce Inc. (NYSE:FDP - Get Free Report) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Thursday, May 16th will be paid a dividend of 0.25 per share on Friday, June 7th. This represents a $1.00 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Wednesday, May 15th.

Fresh Del Monte Produce has increased its dividend payment by an average of 35.7% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Fresh Del Monte Produce has a dividend payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Stock Down 5.8 %

Shares of FDP traded down $1.51 during midday trading on Friday, reaching $24.52. 333,835 shares of the company were exchanged, compared to its average volume of 217,679. Fresh Del Monte Produce has a 1-year low of $21.41 and a 1-year high of $28.55. The stock has a 50-day moving average price of $25.07 and a 200-day moving average price of $24.81. The company has a current ratio of 2.12, a quick ratio of 1.01 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -98.08 and a beta of 0.54.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.26). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.15 billion. Fresh Del Monte Produce had a positive return on equity of 5.11% and a negative net margin of 0.26%. The company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share.

Insider Buying and Selling at Fresh Del Monte Produce

In related news, Director Ghazaleh Amir Abu acquired 10,000 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the transaction, the director now directly owns 3,264,308 shares of the company's stock, valued at approximately $77,102,954.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Fresh Del Monte Produce news, SVP Jesus Rodriguez Calvo sold 2,402 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $24.59, for a total value of $59,065.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ghazaleh Amir Abu purchased 10,000 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the acquisition, the director now owns 3,264,308 shares of the company's stock, valued at approximately $77,102,954.96. The disclosure for this purchase can be found here. Insiders sold a total of 10,569 shares of company stock worth $258,509 over the last ninety days. Company insiders own 29.70% of the company's stock.

Analyst Ratings Changes

Separately, TheStreet lowered shares of Fresh Del Monte Produce from a "b-" rating to a "c" rating in a report on Monday, February 26th.

About Fresh Del Monte Produce

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.