Calavo Growers (CVWG) doubles dividend in 2024
Avocado company boosts dividend to $0.20 quarterly with a 4.2% yield
Calavo Growers (CVWG) will raise its quarterly dividend by 100 percent to $0.25 per share. The next dividend be paid on October 30, 2024, to shareholders of record on October 2, 2024. The dividend yield for the global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole is 4.2%.
Even with this big dividend hike the annual dividend for CVWG is below the record payment of $1.15 annually from both 2021 and 2020. In 2023 Calavo switched to a quarterly dividend payment. The company currently pays an estimated $14 million in dividends to shareholders annually. Year-to-date the stock is down 18%. This comes after an average decline of 13.8% annually in the previous five years.
Because of this massive dividend hike Calavo will be added to our Biggest increases YTD list. Two other US companies doing a 100% dividend hike are Friedman Industries (FRD) and BGC Group (BGC).
Calavo Growers, Inc. operates in the avocado industry. The Company distributes its products both domestically and internationally and also procures and markets diversified fresh produce items, ranging from tomatoes to tropical produce. The company’s Calavo Foods business segment manufactures and distributes guacamole, guacamole hummus and salsa under the respected Calavo brand name. Calavo serves retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers worldwide.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.