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ALCO Buyback image

Alico, Inc. Buyback

OLI recorded this information on 9/5/2018

Company: Alico, Inc.
Buyback: ALCO buyback
$Amount Authorized: $19,999,990
Buyback Details: Alico, Inc. ("Alico" or the "Company") (NASDAQ:ALCO) announced today the commencement of an issuer offer (the "Tender Offer") to purchase up to $19,999,990 in value of shares of its common stock at a purchase price of $34.00 per share. The closing price of the common stock on NASDAQ on September 4, 2018, the last trading day prior to today's announcement, was $32.35 per share. The maximum number of shares proposed to be purchased in the Tender Offer represents approximately 7.17% of Alico's outstanding common stock. The Company expects to fund the purchase of shares in the Tender Offer with available cash.

Alico is an agribusiness and land management company. Co.'s principal lines of business are citrus groves and water storage and other operations, which include environmental services, land leasing and related support operations. Co. has two segments: Alico Citrus, which cultivates citrus trees to produce citrus for delivery to the processed and fresh citrus markets; and Water Resources and Other Operations, which owns and manages land in Collier, Glades, and Hendry Counties and is engaged in land leasing for recreational and grazing purposes, conservation, and mining activities.

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Company Name: 
Alico, Inc.
Stock buyback: 
ALCO buyback
Website: 
www.alicoinc.com
Sector: 
Agriculture & Farm Products
Number of ETFs Holding ALCO: 
17
Total Market Value Held by ETFs: 
$14.65M
Total Market Capitalization: 
$231.00M
% of Market Cap. Held by ETFs: 
6.34%
 

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Hold (2.00 out of 4)
50th percentile
(ranked higher than approx. 50% of all stocks covered)
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