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

Alico, Inc. (NASDAQ:ALCO) declared a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Stockholders of record on Friday, December 27th will be given 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Alico Price Performance

ALCO opened at $26.48 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.81 and a quick ratio of 0.99. Alico has a 1 year low of $24.14 and a 1 year high of $30.75. The stock’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $26.80. The firm has a market cap of $202.12 million, a price-to-earnings ratio of 28.78 and a beta of 0.80.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of 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.