Dividend Track Records (DTR)

On December 15, 2022, Alico, Inc. (ALCO) announced a 90% dividend cut to $0.05 quarterly per share. This follows massive dividend hikes by the citrus producer in the previous three years. On October 14, 2022, the Company paid a fourth quarter cash dividend of $0.50 per share on its outstanding common stock to stockholders of record as of September 30, 2022. Additionally, the Company has declared a first quarter fiscal year 2023 cash dividend of $0.05 per share on its outstanding common stock to stockholders of record as of December 30, 2022. “Alico has paid common dividends to shareholders consistently since it became publicly held more than 6 decades ago. The rate of increased dividend payments since 2019 has been a source of pride as ranch sales proceeds and operations enabled significant amounts of capital to be returned to shareholders. However, taking into account the impact of the recent storm, Alico’s Board of Directors unanimously voted to reduce its next quarterly common divid...

Alico, Inc. (ALCO) will raise its quarterly dividend by 177.8 percent to 50 cents per share in 2021. A new annual dividend rate of $2.00 per share yields 5.6% at a stock price of $35.46. 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. John Kiernan, Alico’s President and Chief Executive Officer, commented, “The Board of Directors decision to substantially increase our common dividend to a $2 annual level reflects their continued confidence that our business strategy supports a higher level of return of capital to our shareholders. We are also pleased with the continued buyer interest in our Ranch land, which has allowed us to close sales transactions at premium prices. As reported last month, Alico will use these asset sale proceeds to continue to retire portions of our remaining $39 million of variable rate te...