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

Alico, Inc. (NASDAQ:ALCO) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders 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 dividend 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% 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 1.8 %

Shares of NASDAQ ALCO traded up $0.47 during midday trading on Tuesday, hitting $26.24. The stock had a trading volume of 34,650 shares, compared to its average volume of 27,436. The business’s 50 day moving average is $26.07 and its 200-day moving average is $26.80. The company has a market cap of $200.29 million, a P/E ratio of 28.52 and a beta of 0.80. Alico has a 52 week low of $24.14 and a 52 week high of $30.75. The company has a quick ratio of 0.99, a current ratio of 3.81 and a debt-to-equity ratio of 0.35.

Wall Street Analysts Forecast Growth

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

Alico Company Profile

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.