Limoneira to pay dividend of 5 cents per share
Santa Paula agribusiness Limoneira declared a dividend of 5 cents per share March 24.
The dividend will be paid April 15 to all common stockholders at the close of business April 4. Limoneira badly missed analyst estimates when it reported a first quarter net loss of $3.9 million, or 29 cents per share March 11.
The agribusiness company said at the time it sold just 753,000 cartons of fresh lemons in the first quarter, compared to 890,000 last year and blamed the reduction on poor production at its Yuma, Ariz. orchards.
Limoneira reported 2015 profits of $7.1 million. The company’s shares traded down 16 cents to $14.67 at 9:55 a.m. March 24.
• Contact Philip Joens at pjoens@pacbiztimes.com.
