Santa Paula avocado distributor Calavo Growers announced Oct. 4 that it would pay a 95 cent dividend to shareholders, for a total of $16.7 million.
Shareholders of record as of Nov. 17 will receive the dividend on Dec. 8. The company said in a news release that it was the sixth year that it had increased its annual dividend.
Chairman and CEO Lee Cole said that it was indicative of the company’s confidence and that it was “focused on balancing dual objectives of delivering annual cash dividends while also reinvesting profits to fund the expansion of our business.”
Shares ended Oct. 4 at $74.25, down 55 cents.
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