Alico Hikes Dividend 50%

The new rate will be paid this coming January.

By Rich Duprey – Sep 26, 2013 at 11:32PM EST

Agribusiness and land management specialist Alico (ALCO +1.52%) announced today its fiscal 2014 first-quarter dividend of $0.12 per share, a 50% increase in the payout made to investors last quarter from $0.08 per share.

The board of directors said the quarterly dividend is payable on January 14 to holders of record at the close of business on December 31. The regular dividend payment equates to a $0.48-per-share annual dividend, yielding 1.1% based on the closing price today of Alico's stock.

The board also set the annual shareholder meeting date for 10:00 a.m. on Feb. 28, 2014, in the Alico Arena at Florida Gulf Coast University.

ALCO Dividend data by YCharts. Chart does not reflect new, higher dividend payment announcement.

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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Alico Hikes Dividend 50%

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