Inc. Announces Dividend
FL, March 4, 2009 — Alico, Inc. (NASDAQ: ALCO), a land management company,
announced that at its Board of Directors meeting on February 26, 2009, the Board
declared a dividend in the amount of $0.1375 per share to be paid to
shareholders of record as of April 30, 2009 with payment expected on or about
May 15, 2009.
Alexander, Chairman, stated "We are pleased that this payment represents the
Company’s fourteenth consecutive quarterly dividend. After careful
consideration of the current economic environment and its effect on the Company,
the Board felt it was prudent to reduce the dividend. The Board will
continue to monitor the economy, the Company’s operations and financial
condition in consideration of future dividend payments. "
Inc., a land management company operating in Central and Southwest Florida, owns
approximately 135,500 acres of land located in Collier, Glades, Hendry, Lee and
Polk counties. Alico is involved in various agricultural operations and real
estate activities. Alico's mission is to grow its asset values through its
agricultural and real estate activities to produce superior long-term returns
for its shareholders.
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in this press release that are not statements of historical or current fact
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown factors that
could cause the actual results of the Company to be materially different from
the historical results or from any future results expressed or implied by such
forward-looking statements. The forward-looking statements contained herein are
also subject generally to other risks and uncertainties that are described from
time to time in the Company's reports and registration statements filed with the
Securities and Exchange Commission.