Alico, Inc. Announces Quarterly Dividend of $0.05 (NASDAQ:ALCO)

Alico, Inc. (NASDAQ:ALCO) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Shareholders of record on Friday, December 27th will be paid a dividend of 0.05 per share on Friday, January 10th. This represents a $0.20 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, December 27th.

Alico has decreased its dividend payment by an average of 23.7% per year over the last three years. Alico has a payout ratio of -54.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Alico Stock Up 1.3 %

Shares of NASDAQ ALCO opened at $26.48 on Wednesday. The business has a 50-day moving average of $26.08 and a two-hundred day moving average of $26.80. The company has a market capitalization of $202.12 million, a price-to-earnings ratio of 28.78 and a beta of 0.80. Alico has a 1 year low of $24.14 and a 1 year high of $30.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.81 and a quick ratio of 0.99.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Alico to a “sell” rating in a research report on Thursday, August 29th.

About Alico

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 engages in planting, owning, cultivating, and/or managing citrus groves 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.