Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Common Stock
Our common stock is traded on the Nasdaq Global Select Market under the symbol ALCO.
Holders
On December 3, 2021, our stock transfer records indicated there were 218 holders of record of our common stock. A greater number of holders of our common stock are “street name” or beneficial holders, whose shares are held by banks, brokers and other financial institutions.
Dividend Policy
The declaration and amount of any actual cash dividend are in the sole discretion of our Board of Directors and are subject to numerous factors that ordinarily affect dividend policy, including the results of our operations and financial position, as well as general economic and business conditions.
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The Board of Directors approved the increase of our annual dividend to $2.00 per common share in June 2021.
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The Board of Directors approved the increase of our annual dividend to $0.72 per common share in December 2020.
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The Board of Directors approved the increase of our annual dividend to $0.36 per common share in December 2019.
Stock Performance Graph
The graph below represents our common stock performance, comparing the value of $100 invested on September 30, 2016 in our common stock, the S&P 500 Index, the S&P Agricultural Products Index and a Company-constructed peer group, which includes Forestar Group, Inc., Limoneira Company, The St. Joe Company, Tejon Ranch Co. and Texas Pacific Land Trust.
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INDEXED RETURNS
Base
Period
Years Ending
Company Name / Index
Sept 16
Sept 17
Sept 18
Sept 19
Sept 20
Sept 21
Alico, Inc.
100
128.17
127.85
129.71
110.42
137.59
S&P 500 Index
100
118.61
139.85
145.80
167.89
218.26
S&P Agricultural Products Index
100
102.41
115.38
97.59
116.03
164.19
Peer Group
100
134.85
220.05
175.08
143.17
317.43
(Includes reinvestment of dividends)
Recent Sale of Unregistered Securities
None.
Issuer Repurchases of Equity Securities
We adopted Rule 10b5-1 share repurchase plan under the Securities Exchange Act of 1934 (the “Plan”) in connection with share repurchase authorizations. The Plan allows us to repurchase our shares of common stock at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. Because repurchases under the Plan are subject to certain pricing parameters, there is no guarantee as to the exact number of common shares that will be repurchased under the Plan or that there will be any repurchases pursuant to the Plan. We did not repurchase any of our common stock under our Plan during the year ended September 30, 2021.
Item 6. [Reserved]
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