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

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) declared a quarterly dividend on Tuesday, December 31st,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 3.14%. The ex-dividend date of this dividend is Friday, January 10th.

Calavo Growers has decreased its dividend payment by an average of 36.1% per year over the last three years. Calavo Growers has a payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. 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 traded down $0.01 during midday trading on Tuesday, reaching $25.50. The stock had a trading volume of 144,758 shares, compared to its average volume of 203,481. The company has a current ratio of 2.04, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $453.87 million, a price-to-earnings ratio of -51.00 and a beta of 0.58. The company's 50-day moving average is $26.89 and its 200 day moving average is $25.62. Calavo Growers has a 12-month low of $20.30 and a 12-month 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.