CORAL GABLES, Fla.–(BUSINESS WIRE)–Fresh Del Monte Produce Inc. (NYSE:FDP – news) today announced that the Board of Directors has determined to pay a regular quarterly cash dividend of $0.05 per share.

The first quarterly dividend was declared today for payment on March 6, 2002 to shareholders of record as of February 11, 2002.

The Company’s decision to pay a dividend is a result of the Company’s earnings growth over the past quarters, strong cash flow, excellent performance in the fresh produce industry and the Company’s commitment to enhance shareholder value. The Company expects to continue to take steps to implement plans and procedures to grow while increasing the visibility of its quality products and strong brand name.

Fresh Del Monte is a leading vertically-integrated producer and marketer of high quality fresh and packaged fresh-cut fruit and vegetables. Our products include bananas, pineapples, cantaloupe, honeydew, watermelons, grapes, non-tropical fruit (including citrus, apples, pears, peaches, plums, nectarines, apricots and kiwi), plantains, Vidalia® sweet onions and various greens. We market our products worldwide under the DEL MONTE® brand, a symbol of product quality and reliability since 1892.

SOURCE: Fresh Del Monte Produce Inc.