Riviana Foods Inc. (Nasdaq: RVFD) announced that the Board of Directors has approved a 14% increase in the Company’s quarterly cash dividend, to $0.16 per common share from $0.14 per common share last year. This is the fifth consecutive year that the Board has raised the dividend since the Company’s initial public offering in 1995.
The increased dividend represents an annualized rate of $0.64 per share. The dividend will be paid on January 9, 2001, to stockholders of record at the close of business on December 5, 2000.
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At the Annual Meeting of Stockholders held in Houston yesterday, eleven directors named in the proxy statement were elected to an annual term. Newly elected director Frank K. Godchaux of Abbeville, Louisiana, replaced Katie G. Derby who did not stand for reelection.
Also at the annual meeting, Joseph A. Hafner, Jr., president and chief executive officer, announced the Company’s new website, www.Riviana.com. The website provides information about Riviana and its products and is directly linked to other websites for the Company’s branded rice products.
Stockholders also approved the appointment of Arthur Andersen LLP as the Company’s independent auditors.
Based in Houston, Texas, Riviana Foods Inc. is one of the largest processors, marketers and distributors of branded and private label rice products in the United States. Principal brands include Mahatma®, Carolina® and Success®. The Company has additional food operations in Central America and Europe.
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By GlobalDataThis press release includes forward-looking statements under the rules of the Securities and Exchange Commission. Although the Company believes that the expectations reflected in these statements are based upon reasonable assumptions, Riviana can give no assurance that these expectations will be achieved.
