Riviana Foods Inc. (Nasdaq: RVFD) announced that the Board of Directors has approved a 3.1% increase in the Company’s quarterly cash dividend, to $0.165 per common share from $0.16 per common share last year. This is the sixth 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 $0.66 per share. The dividend will be paid on January 8, 2002, to stockholders of record at the close of business on December 4, 2001.
At the Annual Meeting of Stockholders held in Houston yesterday, eleven directors named in the proxy statement were elected to an annual term.
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.