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

Calavo Growers, Inc. (NASDAQ:CVGW) announced a quarterly dividend on Tuesday, December 31st,Wall Street Journal reports. Stockholders of record on Friday, January 10th will be given a dividend of 0.20 per share on Friday, January 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, January 10th.

Calavo Growers has decreased its dividend by an average of 36.1% annually over the last three years. Calavo Growers has a payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. 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

CVGW stock traded down $0.01 on Tuesday, hitting $25.50. The company’s stock had a trading volume of 144,758 shares, compared to its average volume of 203,481. The stock has a market cap of $453.87 million, a price-to-earnings ratio of -51.00 and a beta of 0.58. The firm has a 50 day moving average of $26.89 and a two-hundred day moving average of $25.62. The company has a current ratio of 2.04, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. Calavo Growers has a 1 year low of $20.30 and a 1 year high of $31.26.

Calavo Growers Company Profile

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.