Alico resumes dividend payment

FORT MYERS -- Alico Inc. (symbol: ALCO) will resume dividend payments to shareholders later this year, roughly two years after it ended such payouts after its stock value fell by roughly 50%.

"Although we continue to operate in an uncertain economic environment, our board recognized our agribusiness performance was solid in fiscal 2011 and we believe our shareholders should benefit from this performance,” says CEO JD Alexander in a release.

From 1984 to 2003, the Fort Myers-based land management firm rewarded investors with annual dividend payouts. Then, after electing not to make a payout in 2004, the company began making quarterly payments in summer 2005.