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

Fresh Del Monte Produce Inc. (NYSE:FDP) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.25 per share on Friday, September 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Thursday, August 15th.

Fresh Del Monte Produce has increased its dividend by an average of 35.7% per year over the last three years. Fresh Del Monte Produce has a dividend payout ratio of 40.5% indicating that its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Trading Up 10.7 %

Shares of FDP opened at $27.25 on Friday. The firm’s 50-day simple moving average is $22.77 and its two-hundred day simple moving average is $24.04. Fresh Del Monte Produce has a fifty-two week low of $21.23 and a fifty-two week high of $28.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 2.16.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Thursday, August 1st. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.18 billion. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.88%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Michael J. Berthelot sold 5,800 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $23.64, for a total value of $137,112.00. Following the transaction, the director now directly owns 13,916 shares in the company, valued at $328,974.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael J. Berthelot sold 5,800 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $23.64, for a total value of $137,112.00. Following the completion of the sale, the director now directly owns 13,916 shares of the company’s stock, valued at $328,974.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Marissa R. Tenazas acquired 2,000 shares of Fresh Del Monte Produce stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $21.85 per share, with a total value of $43,700.00. Following the completion of the purchase, the senior vice president now owns 2,108 shares of the company’s stock, valued at $46,059.80. The disclosure for this purchase can be found here. 30.10% of the stock is owned by insiders.

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.