Limoneira (LMNR) said Monday its board has approved a share buyback program to repurchase up to $30 million of its common shares.
The company also said it has concluded a process announced in December 2023 to explore potential strategic alternatives, but remains committed to a "value creation roadmap," which includes "selling non-core assets, real estate development at harvest, land use conversion, water monetization and avocado expansion."
The extent of the share repurchases and timing will depend on factors like market conditions, the company said.
Limoneira shares were rising 2.7% in recent premarket activity.
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