Calavo Growers, Inc. (NASDAQ:CVGW) Announces $0.20 Quarterly Dividend

Calavo Growers, Inc. (NASDAQ:CVGW) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Investors of record on Friday, January 10th will be paid a dividend of 0.20 per share on Friday, January 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, January 10th.

Calavo Growers has decreased its dividend payment by an average of 24.2% per year over the last three years. Calavo Growers has a dividend payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Calavo Growers to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 42.8%.

Calavo Growers Stock Performance

Shares of CVGW stock opened at $23.78 on Wednesday. The company has a market cap of $423.26 million, a P/E ratio of -47.56 and a beta of 0.59. The business has a 50 day moving average of $26.66 and a two-hundred day moving average of $25.65. Calavo Growers has a 52 week low of $20.30 and a 52 week high of $31.26. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.18.

About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.