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

Fresh Del Monte Produce Inc. (NYSE:FDP) announced a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.25 per share on Friday, September 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, August 15th.

Fresh Del Monte Produce has raised its dividend payment by an average of 35.7% annually 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 Stock Up 10.8 %

Shares of NYSE FDP traded up $2.66 during midday trading on Friday, reaching $27.27. 605,751 shares of the company’s stock traded hands, compared to its average volume of 241,181. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -52.59 and a beta of 0.44. Fresh Del Monte Produce has a one year low of $21.23 and a one year high of $28.55. The company has a quick ratio of 1.11, a current ratio of 2.16 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $22.69 and its 200-day simple moving average is $24.03.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. Fresh Del Monte Produce had a positive return on equity of 4.59% and a negative net margin of 0.56%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $0.99 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $21.85 per share, for a total transaction of $43,700.00. Following the purchase, the senior vice president now directly owns 2,108 shares in the company, valued at $46,059.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Marissa R. Tenazas purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $21.85 per share, with a total value of $43,700.00. Following the acquisition, the senior vice president now owns 2,108 shares in the company, valued at $46,059.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $137,112.00. Following the transaction, the director now directly owns 13,916 shares in the company, valued at $328,974.24. The disclosure for this sale can be found here. 30.10% of the stock is owned by corporate insiders.

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, 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.