Agribusiness and land management specialist Alico  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 Chart

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

The article Alico Hikes Dividend 50% originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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