PARADISE FRUIT <PARF> SETS LOWER DIVIDEND Paradise Fruit Co Inc said its board declared a dividend of 25 cts per share, payable March 31 to holders of record March 19. The company last paid 50 cts per share in January 1986 and before that paid 60 cts in January 1985. Paradise said commercial bank lending agreements it entered into in June 1986 include retained earnings requirements that limit the amount of earnings available for distribution to shareholders.