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

Alico, Inc. (NASDAQ:ALCO) declared a quarterly dividend on Friday, June 14th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.05 per share on Friday, July 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, June 28th.

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. 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 Trading Up 1.7 %

Shares of Alico stock traded up $0.42 on Wednesday, hitting $25.81. The stock had a trading volume of 8,894 shares, compared to its average volume of 25,929. The stock has a 50 day moving average of $26.67 and a 200 day moving average of $28.00. Alico has a twelve month low of $23.22 and a twelve month high of $31.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.08 and a current ratio of 2.55. The firm has a market capitalization of $196.67 million, a P/E ratio of 4.94 and a beta of 0.84.

Alico (NASDAQ:ALCO) last released its quarterly earnings data on Monday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.40. The company had revenue of $18.11 million during the quarter, compared to the consensus estimate of $40.60 million. Alico had a negative return on equity of 8.22% and a net margin of 99.63%. Sell-side analysts expect that Alico will post -5.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com cut Alico from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th.

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.