ALICO, INC. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K covers events occurring on January 6, 2006, specifically the Company's annual meeting of stockholders and the subsequent Board of Directors meeting. ALICO, Inc. is an agribusiness company operating in Central and Southwest Florida, owning approximately 136,000 acres of land. Its operations include citrus fruit production, cattle ranching, sugarcane, sod production, forestry, and real estate development.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only specific financial data disclosed relates to shareholder distributions:
- Dividend Declaration: The Board declared a regular quarterly dividend of $0.25 per share.
- Record Date: March 31, 2006.
- Payment Date: Expected on or about April 15, 2006.
Material Changes and Corporate Actions
The primary material events reported are changes in corporate governance and capital allocation:
- Director Elections: Stockholders elected eight directors: John R. Alexander, Robert E. Lee Caswell, Evelyn D'An, Phillip S. Dingle, Gregory T. Mutz, Charles Palmer, Baxter G. Troutman, and Gordon Walker. All nominees received significant "For" votes (ranging from approximately 6.63 million to 6.67 million) with minimal "Withheld" votes.
- Officer Appointments: The Board re-elected John R. Alexander as Chairman and Gregory T. Mutz as Lead Director. Several officers were elected, including Patrick W. Murphy (VP, CFO, Treasurer) and divisional VPs for Ranch, Heavy Equipment, Sugarcane, and Citrus operations.
Outlook, Risks, and Management Commentary
The filing includes a standard forward-looking statements disclaimer. Management notes that the company is increasingly involved in exploring real estate development in and beyond its holdings. The press release attached to the filing contains predictive statements regarding future prospects, which are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from expectations. The Company undertakes no obligation to update these statements.
Investor Verification Checklist
- Verify the exact number of shares outstanding to calculate the total cash outflow for the $0.25 per share dividend.
- Confirm the specific terms of the "special dividend" mentioned in the 8-K text versus the "regular quarterly dividend" detailed in the press release exhibit to ensure no discrepancy in amounts or dates.
- Review the Company's most recent 10-K or 10-Q for detailed financial performance, as this 8-K contains no revenue or earnings data.
- Monitor future filings for updates on the real estate development initiatives mentioned in the "About Alico" section.