Calavo Growers, Inc. (NASDAQ:CVGW) Raises Dividend to $0.20 Per Share

Calavo Growers, Inc. (NASDAQ:CVGW) announced a quarterly dividend on Sunday, September 8th, Zacks reports. Shareholders of record on Wednesday, October 2nd will be paid a dividend of 0.20 per share on Wednesday, October 30th. This represents a $0.80 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, October 2nd. This is a boost from Calavo Growers’s previous quarterly dividend of $0.10.

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 47.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Calavo Growers to earn $1.60 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 50.0%.

Calavo Growers Stock Performance

Shares of CVGW stock opened at $28.53 on Tuesday. The firm has a market cap of $507.83 million, a price-to-earnings ratio of -317.00 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04. Calavo Growers has a 52 week low of $20.30 and a 52 week high of $31.26. The firm’s 50-day simple moving average is $24.89 and its two-hundred day simple moving average is $25.48.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd.

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.