Calavo Growers, Inc. Declares 95 Cents Per Share Annual Cash Dividend
October 04 2017 - 4:30PM
Business Wire
Distribution Increases 5 Cents Per Share
from Last Year, Reflecting Continued Commitment to Delivering
Shareholder Returns
Calavo 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 $0.95
per share annual cash dividend on its common stock.
The board set Dec. 8, 2017 as the payment date to all
shareholders of record as of Nov. 17, 2017.
The distribution of $0.95 per share represents a 5.6 percent
increase from last year and marks the company’s sixth consecutive
annual cash dividend increase. This is also the 16th consecutive
annual payout by Calavo since 2002, when its shares became publicly
traded on the Nasdaq Market, during which time the dividend has
increased 375 percent.
Chairman and Chief Executive Officer Lee E. Cole stated: "The
decision by Calavo’s board of directors to return approximately
$16.7 million to shareholders, equal to 95 cents per share, via our
annual cash dividend is indicative of our confidence in the
prospects ahead and commitment to rewarding our stockholders. We
remain focused on balancing dual objectives of delivering annual
cash dividends while also reinvesting profits to fund the expansion
of our business. This dividend increase and our recent
growth-oriented investments reflect our board’s optimism and
confidence about Calavo’s future course.”
About Calavo Growers, Inc.
Calavo Growers, Inc. is a global avocado-industry leader and an
expanding provider of value-added fresh food. The company also
procures and markets diversified fresh produce items, ranging from
tomatoes to tropical produce. The company’s Calavo Foods business
segment manufactures and distributes guacamole, guacamole hummus
and salsa under the respected Calavo brand name. Calavo’s wholly
owned subsidiary, Renaissance Food Group, LLC, creates, markets and
distributes a portfolio of healthy, high-quality lifestyle products
for consumers through fast-growing brands that include Garden
Highway and Chef Essentials. Founded in 1924, Calavo serves retail
grocery, foodservice, club stores, mass merchandisers, food
distributors and wholesalers worldwide.
Safe Harbor Statement
This news release contains statements relating to future events
and results of Calavo (including certain projections and business
trends) that are "forward-looking statements" as defined in the
Private Securities Litigation and Reform Act of 1995. Actual
results and events may differ from those projected as a result of
certain risks and uncertainties. These risks and uncertainties
include, but are not limited to: increased competition, conducting
substantial amounts of business internationally, pricing pressures
on international products, adverse weather and growing conditions
confronting avocado growers, new governmental regulations, as well
as other risks and uncertainties detailed from time to time in the
company's Securities and Exchange Commission filings, including,
without limitation, the company's latest filed Annual Report on
Form 10-K. These forward-looking statements are made only as of the
date hereof, and the company undertakes no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20171004006363/en/
Calavo Growers, Inc.Lee Cole, Chairman, President and Chief
Executive Officer(805) 525-1245
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