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Limoneira Announces New $10 Million Share Repurchase Program
SANTA PAULA, Calif.--(BUSINESS WIRE)-- Limoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling and
About this update from Limoneira Co
[{"type":"text","content":" SANTA PAULA, Calif.--(BUSINESS WIRE)--\nLimoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development investments, today announced that the Company’s Board of Directors authorized the repurchase of up to $10.0 million of the Company’s issued and outstanding common stock.\n\n\nHarold Edward, the Company’s Chief Executive Officer, said, “Today’s share repurchase program announcement demonstrates the Board and management’s continued confidence in the long-term growth prospects of Limoneira and the strong overall value of our Company. The authorized repurchases are part of the ongoing commitment to a disciplined and opportunistic capital deployment strategy.”\n\n\nUnder the approved authorization, the Company may purchase common stock through March, 2021 utilizing one or more open market transactions, transactions structured through investment banking institutions, in privately-negotiated transactions or otherwise, by direct purchases of common stock or a combination of the foregoing in compliance with the applicable rules and regulations of the Securities and Exchange Commission.\n\n\nThe timing of the purchases and the amount of shares repurchased is subject to the Company’s discretion and will depend on market and business conditions, applicable legal and credit requirements and other corporate considerations including the Company’s historical strategy of pursuing accretive acquisitions and deleveraging.\n\n\nAbout Limoneira Company\n\n\nLimoneira Company, a 126-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (lē moń âra) is a dedicated sustainability company with 15,700 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona, Chile and Argentina. The Company is a leading producer of lemons, avocados, oranges, specialty citrus and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.\n\n\nForward-Looking Statements\n\n\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securitie...