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On September 25, 2012, the Board of Directors of Limoneira Company
LMNR, a leading agribusiness with prime agricultural land and operations,
real estate and water rights in California, declared a quarterly cash dividend
of $0.03750 per common share payable on October 15, 2012, to stockholders of
record on October 8, 2012. This represents a 20% increase compared to previous
quarterly dividend payments.
Harold Edwards, President and Chief Executive Officer, stated, “Limoneira is
well positioned for another year of improving net income and solid cash flow
from operations in fiscal year 2012. We are returning a portion of our cash
flow to our loyal shareholders by increasing our dividend by 20%.”
Mr. Edwards continued, “We believe the significant investments we have made in
our long-term strategic growth opportunities for global agribusiness, real
estate development, waste and water asset utilization and rental business has
created a diversified asset portfolio that will offer shareholders a superior
return on our investments. Our low cost debt and asset rich balance sheet
combined with our solid cash flow from operations enables us to increase our
dividend and continue to invest in our business.
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