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Stock impact report

Alico, Inc. Announces Substantial Increase in Dividend, Additional Ranch Land Sales and Update on ESG Initiative

Alico, Inc. (ALCO) 
US:NASDAQ Investor Relations: ir.stockpr.com/alicoinc/investor-home
Company Research Source: GlobeNewswire
FORT MYERS, Fla., June 14, 2021 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (Nasdaq: ALCO) today announces significant activities that will continue to support its business strategy and generate greater returns for our shareholders.   The Alico Board of Directors approved an increase in the quarterly dividend from $0.18 per common share to $0.50 per common share, which represents an approximate 178% increase, effective the third quarter of fiscal year 2021. Our current common dividend yield based on Friday’s, June 11, 2021 closing stock price was 2.26%, at the same share price, the increased annual common dividend yield would exceed 6%. In our press release dated May 5, 2021 describing “Strategic Actions to Increase Long-term Shareholder Returns,” we disclosed that we were under contract to sell, or in final negotiations to sell, approximately 15,000 additional acres of the Alico Ranch. Since that announcement, we have sold approximately 12,500 acres. In early June Show less Read more
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