Paradise, Inc. Announces 2016 Financial Results and Declaration of Dividend

PLANT CITY, Fla., March 31, 2017 /PRNewswire/ -- Paradise, Inc. (PARF: OTCPK) announced net income of $1,106,865 or $2.13 per share for the year ended December 31, 2016 versus $512,758 or $0.99 per share for 2015. Total Net Sales for 2016 were $23,230,386 compared to $23,734,441 for 2015. The Board of Directors declared an annual cash dividend of $0.25 per share on Paradise, Inc.'s common stock, payable on Friday, April 21, 2017 to shareholders of record at the close of business on Thursday, April 13, 2017.

The Company's Annual Shareholder Meeting is scheduled to be held at 10:00 a.m. on Tuesday, May 30, 2017 for shareholders of record as of April 21, 2017. The meeting will be held at the Company's headquarters located at 1200 W. Dr. Martin Luther King Jr. Blvd., Plant City, Florida 33563.

Paradise, Inc. is the largest producer and seller of glace' candied fruit in the U.S. These products are used in fruit cakes and other confections both by commercial bakers and homemakers, and have long been a holiday tradition. The Company also operates Paradise Plastics, Inc. a wholly owned subsidiary, which designs and molds plastics containers for its product line, as well as other custom plastics products for non-affiliated customers.

SOURCE Paradise, Inc.