Alico, Inc. (ALCO) to Issue Quarterly Dividend of $0.05 on January 10th

Alico, Inc. (NASDAQ:ALCO) declared 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 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, December 27th.

Alico has decreased its dividend payment by an average of 23.7% annually over the last three years. Alico has a dividend payout ratio of -54.1% meaning 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. Alico has a one year low of $24.14 and a one 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. The firm’s 50 day simple moving average is $26.08 and its two-hundred day simple moving average is $26.80. The stock has a market capitalization of $202.12 million, a P/E ratio of 28.78 and a beta of 0.80.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of 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.