SANTA PAULA, Calif.–(BUSINESS WIRE)–Calavo Growers, Inc. (Nasdaq-GS:CVGW), a global leader in avocado marketing and an expanding provider of other fresh perishable produce items, today announced that its board of directors declared a $0.50 per share annual cash dividend on its common stock. The annual payout represents a 43 percent increase from $0.35 per share issued last year.
The board set Dec. 11, 2009 as the payment date to all stockholders of record as of Dec. 1, 2009.
Chairman, President and Chief Executive Officer Lee E. Cole stated: “Calavo’s sharply higher annual cash dividend reflects both the sustained strength of our operating results and considerable confidence in the company’s prospects longer term as we successfully execute our strategic agenda. Moreover, the payment expresses in the clearest possible manner our resolve to deliver the highest possible returns to our shareholders, while still generating sufficient earnings to prudently reinvest in and drive future growth.”
About Calavo Growers, Inc.
Calavo Growers, Inc. is the worldwide leader in the procurement and marketing of fresh avocados and other perishable foods, as well as the manufacturing and distribution of processed avocado products. Founded in 1924, Calavo’s expertise in marketing and distributing avocados, processed avocados, and other perishable products enables it to serve food distributors, produce wholesalers, supermarkets and restaurants on a global basis.