Limoneira (NASDAQ:LMNR) to Issue Quarterly Dividend of $0.08

Limoneira (NASDAQ:LMNR - Get Free Report) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.075 per share on Friday, April 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 31st.

Limoneira has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings.

Limoneira Stock Performance

Shares of NASDAQ:LMNR traded down $0.24 during trading on Friday, reaching $17.36. 131,374 shares of the stock were exchanged, compared to its average volume of 49,890. Limoneira has a 12 month low of $17.12 and a 12 month high of $29.22. The firm has a market cap of $313.26 million, a PE ratio of 45.69 and a beta of 0.46. The stock has a 50-day moving average price of $22.00 and a 200-day moving average price of $24.84. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Lake Street Capital dropped their price target on shares of Limoneira from $25.00 to $23.00 and set a "hold" rating for the company in a research report on Thursday, March 13th. StockNews.com upgraded shares of Limoneira from a "sell" rating to a "hold" rating in a research report on Thursday, March 13th.

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Limoneira announced that its board has authorized a share repurchase plan on Monday, March 17th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to purchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.