The Board of Directors of Riviana Foods Inc. (Nasdaq: RVFD) has declared a quarterly cash dividend of $0.14 per common share, and has authorized the repurchase of an additional 1.0 million shares of the Company’s outstanding stock.
The dividend will be paid on July 6, 2000, to stockholders of record at the close of business on June 8, 2000.
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The additional shares will be purchased from time to time, subject to market conditions, in the open market. The stock will be used for general corporate purposes, including the issuance of stock under employee stock option plans. To date, the Company has completed the purchase of 1.8 million shares of the total 2.0 million shares previously authorized under the repurchase program.
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.
