India, Feb. 24 -- Fresh Del Monte Produce Inc. (FDP), while reporting a profit in its fourth quarter compared to prior year's loss, announced an increase in dividend and also a $150 million share buyback program.
Shares of the food producer were losing around 4 percent in the pre-market activity on the NYSE.
The Board has announced an increase in the quarterly dividend to $0.30 from $0.25. The next quarterly dividend will be paid on March 28, to shareholders of record on March 10.
Further, Fresh Del Monte Board has approved the $150 million share repurchase program, reinforcing its balanced capital allocation strategy. The new plan has no time deadline and will continue until otherwise modified or terminated by the Board at any time.
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