Fresh Del Monte Produce (FDP) said Monday that its board of directors approved a $150 million share repurchase program with no expiration date.
The company said it will fund the repurchases from cash on hand, cash flow from operations, and its revolving credit facility. All ordinary shares repurchased will be retired.
The board also increased the company's quarterly dividend from $0.25 per share to $0.30, payable on March 28 to shareholders of record on March 10.
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