Fresh Del Monte Produce Inc (FDP) to Issue Quarterly Dividend of $0.05 on September 4th

Fresh Del Monte Produce Inc (NYSE:FDP) declared a quarterly dividend on Thursday, July 30th, Wall Street Journal reports. Stockholders of record on Wednesday, August 12th will be given a dividend of 0.05 per share on Friday, September 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, August 11th.

Fresh Del Monte Produce has decreased its dividend payment by an average of 74.6% annually over the last three years. Fresh Del Monte Produce has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings.

Shares of FDP stock opened at $22.58 on Friday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 29.85 and a beta of 0.70. The stock has a fifty day moving average of $23.60 and a 200 day moving average of $27.93. Fresh Del Monte Produce has a 52 week low of $20.25 and a 52 week high of $38.79. The company has a quick ratio of 0.90, a current ratio of 1.82 and a debt-to-equity ratio of 0.37.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.23. Fresh Del Monte Produce had a net margin of 0.54% and a return on equity of 2.16%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis.

In related news, CEO Mohammad Abu-Ghazaleh sold 20,000 shares of Fresh Del Monte Produce stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $24.68, for a total transaction of $493,600.00. Following the sale, the chief executive officer now directly owns 6,280,436 shares in the company, valued at $155,001,160.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 151,118 shares of company stock valued at $3,507,622. 35.60% of the stock is currently owned by company insiders.

Separately, ValuEngine raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Thursday.

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, Europe, the Middle East, Africa, Asia, and internationally. It offers fresh produce products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, cucumbers, whole lettuce, broccoli, cauliflower, and other vegetables; and various other fruits, such as plantains and mangoes.

Further Reading: Cost of Equity For A Business, Investors

Dividend History for Fresh Del Monte Produce (NYSE:FDP)

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