Key Developments: Fresh Del Monte Produce Inc (FDP)
27.17USD
20 May 2013
$-0.07 (-0.26%)
$27.24
$27.21
$27.26
$26.88
149,687
208,463
$27.77
$22.27
Latest Key Developments (Source: Significant Developments)
Fresh Del Monte Produce Inc Announces Share Repurchase Program
Fresh Del Monte Produce Inc announced that its Board of Directors, at their May 1, 2013 board meeting, approved a three-year stock repurchase program of up to $300 million of the Company's ordinary shares, which will expire on May 1, 2016. The share repurchase program announced is in addition to the Company's existing three-year repurchasing program of $150 million, which is set to expire on May 5, 2013. Full Article
Fresh Del Monte Produce Inc Increases Quarterly Dividend
Fresh Del Monte Produce Inc announced that the board of directors has voted to raise the Company's regular quarterly cash dividend from $0.10 per share to $0.125 per share, beginning with the regular quarterly cash dividend that will be payable on March 29, 2013 to shareholders of record on March 6, 2013. Full Article
Fresh Del Monte Produce Inc Declares Cash Dividend
Fresh Del Monte Produce Inc announced that its board of directors declared an interim cash dividend of $0.10 per share, payable on December 7, 2012 to shareholders of record on November 14, 2012. Full Article
Fresh Del Monte Produce Inc Enters Into New $500 Million Senior Unsecured Credit Facility
Fresh Del Monte Produce Inc announced that the Company has entered into a new $500 million senior unsecured revolving credit facility, with Bank of America, N.A. serving as the administrative agent. Merrill Lynch, Pierce, Fenner & Smith Inc. was sole lead arranger and sole book manager on the transaction. The new credit facility has a five-year term, with a scheduled maturity date of October 25, 2017. The credit facility bears interest at a rate of LIBOR plus a margin that varies with the Company's leverage ratio. The current margin for LIBOR advances is 1.25%. This credit facility replaces the Company's existing revolving credit facility scheduled to mature January 17, 2013. The credit facility also includes a swing line facility. The Company intends to use funds borrowed under the credit facility from time to time for general corporate purposes, which may include the repayment, redemption or refinancing of the Company's existing indebtedness, working capital needs, capital expenditures, funding of possible acquisitions, possible share repurchases and satisfaction of other obligations of the Company. Full Article
Fresh Del Monte Produce, Inc. Declares Cash Dividend
Fresh Del Monte Produce, Inc. announced that its board of directors declared an interim cash dividend of $0.10 per share, payable on September 7, 2012 to shareholders of record on August 15, 2012. Full Article
Fresh Del Monte Produce, Inc. Declares Dividend
Fresh Del Monte Produce, Inc. announced that its Board of Directors declared an interim cash dividend of $0.10 per share, payable on December 9, 2011, to shareholders of record on November 16, 2011. Full Article
Fresh Del Monte Produce, Inc. Declares Cash Dividend
Fresh Del Monte Produce, Inc. announced that its Board of Directors declared an interim cash dividend of $0.10 per share, payable on December 9, 2011, to shareholders of record on November 16, 2011. Full Article
Fresh Del Monte Produce, Inc. And FDA In Talks On Cantaloupes-Reuters
Reuters reported that Fresh Del Monte Produce, Inc. is in talks with the U.S. Food and Drug Administration to resolve the dispute on the import of fresh cantaloupes and expects an agreement soon. In August, Del Monte Fresh, a unit of Fresh Del Monte, one the U.S. importers of cantaloupes, filed a lawsuit against the FDA, seeking to reverse a rule that prevents the import of fresh cantaloupes into the country. The unit also filed a notice to sue Oregon's public health division and one its food-borne diseases investigators, when the state's regulator said the Del Monte cantaloupes were the cause of a salmonella outbreak. Full Article
Fresh Del Monte Produce, Inc.'s Del Monte Fresh Produce, N.A., Inc. Files Lawsuit Against FDA In U.S. District Court
Del Monte Fresh Produce, N.A., Inc., a subsidiary of Fresh Del Monte Produce Inc. announced that it has filed suit on, August 22, 2011 against the Food and Drug Administration (FDA) in U.S. District Court for the District of Maryland to seek an injunction that would lift an FDA rule restricting the importation of wholesome fresh cantaloupes into the United States. Del Monte Fresh’s claims are based on the FDA’s (and several other state health agency officials’) erroneous speculation, unsupported by scientific evidence, that cantaloupes previously imported by Del Monte Fresh from a Guatemalan farm and packing facility were contaminated with the pathogen Salmonella. In fact, neither the FDA nor any state health agency in the U.S. has offered evidence or data to support the FDA action. The FDA’s actions adversely affect Del Monte Fresh’s ability to receive perishable fresh produce for sale to its customers in the U.S., as the import alert threatens the viability of a major import source for cantaloupes. Since significant resources and commitments must be finalized immediately to ensure Guatemalan cantaloupes will be ready for harvest in the near future, Del Monte Fresh is seeking immediate injunctive relief from the court. Full Article
Fresh Del Monte Produce, Inc. Announces Increase In Quarterly Dividend
Fresh Del Monte Produce, Inc. announced that its board of directors has voted to raise the Company’s regular quarterly cash dividend from $0.05 per share to $0.10 per share, beginning with the regular quarterly cash dividend that will be payable on September 9, 2011 to shareholders of record on August 17, 2011. Full Article
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