ALICO, INC. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by ALICO, INC. on January 22, 2008, regarding events occurring on January 18, 2008. The filing details the outcomes of the Company's Annual Meeting of Shareholders, including the election of directors, officer appointments, and a quarterly dividend declaration.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures. The only financial metric disclosed is the declaration of a quarterly dividend of $0.275 per share.
Material Changes and Corporate Actions
- Dividend Declaration: The Board declared a quarterly dividend of $0.275 per share. The record date is April 30, 2008, with payment expected on or about May 16, 2008.
- Board Elections: Nine directors were elected to serve on the Board: John R. Alexander, JD Alexander, Robert E. Lee Caswell, Evelyn D'An, Phillip S. Dingle, Gregory T. Mutz, Charles L. Palmer, Robert J. Viguet, and Gordon Walker.
- Stock Ownership Policy Extension: The Board voted to extend the compliance period for the Director Stock Purchase Policy by 12 months. This extension was granted due to a decline in the Company's stock price, which has hindered directors from meeting the $200,000 market value ownership requirement within the original three-year timeframe.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, revenue outlook, or specific risk factors beyond the noted decline in stock price impacting director stock ownership compliance. The text does not provide management commentary on future operational performance.
Key Facts for Investor Verification
- Verify the ex-dividend date and payment schedule for the $0.275 per share dividend.
- Confirm the composition of the newly elected Board of Directors and their committee assignments.
- Monitor the Company's stock price performance relative to the $200,000 Director Target Stock Ownership Requirement.
- Review the attached Press Release (Exhibit 99.1) for details on officer appointments not fully listed in the summary text.