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

Alico, Inc. (NASDAQ:ALCO) announced a quarterly dividend on Friday, September 13th, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.05 per share on Friday, October 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, September 27th.

Alico has decreased its dividend 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. Equities research analysts expect Alico to earn ($0.37) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -54.1%.

Alico Stock Performance

Alico stock opened at $28.00 on Thursday. Alico has a 52 week low of $23.55 and a 52 week high of $31.00. The company has a current ratio of 2.67, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a market cap of $213.47 million, a P/E ratio of 5.33 and a beta of 0.78. The stock has a 50 day moving average of $28.24 and a 200-day moving average of $27.44.

Alico (NASDAQ:ALCO) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The company had revenue of $13.61 million for the quarter, compared to the consensus estimate of $17.80 million. Alico had a net margin of 56.13% and a negative return on equity of 6.72%. On average, analysts expect that Alico will post -5.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Alico to a “sell” rating in a 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.