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

Calavo Growers, Inc. (NASDAQ:CVGW) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Stockholders 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 is Friday, January 10th.

Calavo Growers has decreased its dividend by an average of 24.2% per year over the last three years. Calavo Growers has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.2 %

Shares of NASDAQ CVGW opened at $23.78 on Wednesday. The firm’s fifty day moving average is $26.66 and its 200 day moving average is $25.65. Calavo Growers has a 52 week low of $20.30 and a 52 week high of $31.26. The company has a market cap of $423.26 million, a price-to-earnings ratio of -47.56 and a beta of 0.59. 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.