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

Calavo Growers, Inc. (NASDAQ:CVGW) announced a quarterly dividend on Tuesday, December 31st,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 yield of 3.14%. The ex-dividend date of this dividend 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% 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 Price Performance

Shares of CVGW stock traded down $0.01 during mid-day trading on Tuesday, hitting $25.50. 144,758 shares of the stock were exchanged, compared to its average volume of 203,481. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.18. Calavo Growers has a 52-week low of $20.30 and a 52-week high of $31.26. The firm has a fifty day moving average of $26.89 and a 200 day moving average of $25.62. The company has a market cap of $453.87 million, a PE ratio of -51.00 and a beta of 0.58.

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.