Calavo Growers, Inc. Declares $1.00 Per Share Annual Cash Dividend
October 02 2018 - 9:00AM
Business Wire
Five Cents Per Share Increase from Last Year
Reflects Company’s Growing Profitability, 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 $1.00
per share annual cash dividend on its common stock.
The board set Dec. 7, 2018 as the payment date to all
shareholders of record as of Nov. 16, 2018.
The announced distribution is the company’s seventh consecutive
annual cash dividend increase and represents a 5.3 percent increase
from $0.95 awarded last year. This is also the 17th consecutive
annual payout by Calavo since 2002, when its shares became publicly
traded on the Nasdaq Market, during which time the dividend has
increased 400 percent.
Chairman, President and Chief Executive Officer Lee E. Cole
stated: “As has long been our established practice, we remain
focused on rewarding our shareowners by balancing dual objectives
of delivering annual cash dividends while also reinvesting profits
to fund the expansion of our business. Disciplined execution of the
company’s long-term growth strategy is driving our operating
results higher and making these sustained dividend increases
possible.”
About Calavo Growers, Inc.
Calavo 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.
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, that involve
risks, uncertainties and assumptions. If any of the risks or
uncertainties ever materialize or the assumptions prove incorrect,
the results of Calavo may differ materially from those expressed or
implied by such forward-looking statements and assumptions. All
statements, other than statements of historical fact, are
statements that could be deemed forward-looking statements,
including, but not limited to, any projections of revenue, gross
profit, expenses, income (loss) from unconsolidated entities,
earnings, earnings per share, tax provisions, cash flows, currency
exchange rates, the impact of acquisitions or other financial
items; any statements of the plans, strategies and objectives of
management for future operations, including execution of
restructuring and integration (including information technology
systems integration) plans; any statements regarding current or
future macroeconomic trends or events and the impact of those
trends and events on Calavo and its financial performance, whether
attributable to Calavo or any of its unconsolidated entities; any
statements regarding pending investigations, legal claims or tax
disputes; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. Risks,
uncertainties and assumptions include the impact of macroeconomic
trends and events; the competitive pressures faced by Calavo's
businesses; the development and transition of new products and
services (and the enhancement of existing products and services) to
meet customer needs; integration and other risks associated with
business combinations; the hiring and retention of key employees;
the resolution of pending investigations, legal claims and tax
disputes; and other risks, including, without limitation, those
items discussed in Calavo’s latest filed Annual Report on Form 10-K
and those detailed from time to time in our other filings with the
Securities and Exchange Commission. 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: https://www.businesswire.com/news/home/20181002005404/en/
Calavo Growers, Inc.Lee Cole, 805-525-1245Chairman, President
and Chief Executive Officer
Calavo Growers (NASDAQ:CVGW)
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