Alico, Inc. Declares Quarterly Dividend of $0.06 (ALCO)
Alico, Inc. (NASDAQ:ALCO) announced a quarterly dividend on Monday, September 18th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be given a dividend of 0.06 per share on Monday, October 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, September 28th.
Shares of Alico (NASDAQ ALCO) opened at 32.05 on Tuesday. Alico has a 1-year low of $25.01 and a 1-year high of $34.40. The company has a market capitalization of $264.51 million, a price-to-earnings ratio of 43.19 and a beta of 1.30. The stock has a 50 day moving average price of $31.65 and a 200 day moving average price of $29.99.
Separately, BidaskClub upgraded Alico from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th.
In other news, Director Joseph Sambuco purchased 1,972 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were bought at an average cost of $30.50 per share, for a total transaction of $60,146.00. Following the completion of the purchase, the director now directly owns 2,409 shares of the company’s stock, valued at $73,474.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 62.70% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Alico stock. State Street Corp grew its position in shares of Alico, Inc. (NASDAQ:ALCO) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,051 shares of the company’s stock after purchasing an additional 2,051 shares during the period. State Street Corp owned approximately 0.64% of Alico worth $1,661,000 as of its most recent SEC filing. 73.47% of the stock is owned by hedge funds and other institutional investors.
Alico declared that its board has approved a share repurchase program on Thursday, May 25th that permits the company to buyback $2.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
WARNING: “Alico, Inc. Declares Quarterly Dividend of $0.06 (ALCO)” was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/alico-inc-declares-quarterly-dividend-of-0-06-alco/1572975.html.
Alico, Inc is an agribusiness and natural resources management company. The Company’s segments include Orange Co, Conservation and Environmental Resources and, Other Operations. Its principal lines of business are citrus groves, cattle ranching and conservation. The Orange Co segment includes activities related to planting, owning, cultivating and/or managing citrus groves in order to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing and hauling of citrus.
Receive News & Ratings for Alico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alico Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.