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Fresh Del Monte Produce Inc (FDP) will suspend its $0.15 per share quarterly dividend. The last dividend hike by the company was done in 2016.

The company announced today that its board of directors has determined to suspend the quarterly cash dividend in light of the terms of the company’s credit facility.

Fresh Del Monte is one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa and the Middle East. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd.