Business
Calavo Growers, Inc. Declares $1.10 Per Share Annual Cash Dividend
Ten Percent Increase from Last Year Reflects Company’s Growing Profitability, Continued Commitment to Delivering Shareholder Returns SANTA PAULA,
About this update from Calavo Growers, Inc.
[{"type":"text","content":"\nTen Percent Increase from Last Year Reflects Company’s Growing Profitability, Continued Commitment to Delivering Shareholder Returns\n\n SANTA PAULA, Calif.--(BUSINESS WIRE)--\nCalavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and expanding provider of value-added fresh food, today announced that its board of directors declared a $1.10 per share annual cash dividend on its common stock.\n\n\nThe board set Dec. 6, 2019 as the payment date to all shareholders of record as of Nov. 15, 2019.\n\n\nThe announced distribution is the company’s eighth consecutive annual cash dividend increase and represents a $0.10 per share increase from $1.00 awarded last year. This is also the 18th consecutive annual payout by Calavo since 2002, when its shares became publicly traded on the Nasdaq Market, during which time the dividend has increased 450 percent.\n\n\nChairman, President and Chief Executive Officer Lee E. Cole stated: \"The decision to increase our annual dividend by 10 percent reflects our strong operating performance this fiscal year and our board’s sustained confidence in the long-term growth prospects for our company. While we continue to reinvest in our business, we remain focused on delivering strong returns for our shareowners and rewarding them with these continued annual cash dividend increases.”\n\n\nAbout Calavo Growers, Inc.\n\n\nCalavo Growers, Inc. is a global avocado-industry leader and an expanding provider of value-added fresh food serving retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers worldwide. The Company’s Fresh segment procures and markets fresh avocados and select other fresh produce, including tomatoes and papayas. The Renaissance Food Group (RFG) segment creates, markets and distributes a portfolio of healthy, fresh foods, including fresh-cut fruit, fresh-cut vegetables and prepared foods. The Foods segment manufactures and distributes guacamole and salsa. Founded in 1924, Calavo’s fresh food products are sold under the respected Calavo brand name as well as Garden Highway, Chef Essentials and a variety of private label and store brands.\n\n\nSafe Harbor Statement \n\n\nThis news release contains statements relating to future events and results of Calavo (including certain projections and business trends) that are \"forward-looking statem...