Alico, Inc. (NASDAQ:ALCO) Declares $0.50 Quarterly Dividend

Alico, Inc. (NASDAQ:ALCOGet Rating) announced a quarterly dividend on Wednesday, June 15th, Wall Street Journal reports. Investors of record on Friday, June 24th will be given a dividend of 0.50 per share on Friday, July 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Thursday, June 23rd.

Alico has raised its dividend payment by an average of 91.3% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Alico has a payout ratio of 277.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alico to earn $0.72 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 277.8%.

Shares of NASDAQ:ALCO opened at $38.59 on Tuesday. Alico has a 12-month low of $31.90 and a 12-month high of $43.65. The company has a market capitalization of $291.74 million, a PE ratio of 5.10 and a beta of 0.52. The business has a 50 day moving average of $40.65 and a two-hundred day moving average of $37.20. The company has a current ratio of 2.88, a quick ratio of 1.52 and a debt-to-equity ratio of 0.44.

Alico (NASDAQ:ALCOGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Alico had a return on equity of 0.01% and a net margin of 54.86%. The company had revenue of $49.64 million during the quarter, compared to the consensus estimate of $51.40 million. During the same period in the previous year, the company posted $0.66 earnings per share. Equities research analysts predict that Alico will post -0.41 earnings per share for the current fiscal year.

Separately, started coverage on Alico in a report on Thursday, March 31st. They issued a “hold” rating for the company.

In other news, insider James Sampel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $42.00, for a total value of $126,000.00. Following the completion of the sale, the insider now directly owns 991 shares in the company, valued at $41,622. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its stake in Alico by 383.9% during the 4th quarter. BNP Paribas Arbitrage SA now owns 992 shares of the company’s stock worth $37,000 after acquiring an additional 787 shares in the last quarter. Barclays PLC increased its holdings in shares of Alico by 198.7% in the 4th quarter. Barclays PLC now owns 4,487 shares of the company’s stock valued at $166,000 after acquiring an additional 2,985 shares during the last quarter. Raymond James & Associates grew its stake in Alico by 6.6% during the 1st quarter. Raymond James & Associates now owns 6,001 shares of the company’s stock worth $225,000 after buying an additional 372 shares during the last quarter. Morgan Stanley grew its stake in Alico by 33.9% during the 2nd quarter. Morgan Stanley now owns 6,977 shares of the company’s stock worth $249,000 after buying an additional 1,765 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Alico during the 4th quarter worth approximately $250,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

About Alico (Get Rating)

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment cultivates citrus trees to produce citrus for delivery to the processed and fresh citrus markets.

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Dividend History for Alico (NASDAQ:ALCO)

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