Fresh Del Monte Boosts Dividend 20%, Sets $150 Million Stock Buyback

Dow Jones

2025/02/24

By Colin Kellaher

Fresh Del Monte Produce's board has raised the fruit and vegetables producer's quarterly dividend by 20%, to 30 cents from 25 cents, and approved a $150 million share-repurchase program.

The new quarterly payout, equal to $1.20 a year, represents an annual yield of about 3.89%, based on Friday's closing price of $30.88, up from 3.24%.

The Coral Gables, Fla., company on Monday said the increased dividend is payable March 28 to shareholders of record March 10.

Fresh Del Monte, which has about 47.9 million shares outstanding and sports a market capitalization of nearly $1.5 billion, said the stock buyback is part of a broader capital-allocation framework and has no deadline.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 24, 2025 06:20 ET (11:20 GMT)

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