By Denny Jacob
Limoneira shares rose 5.7% after announcing a buyback program and the conclusion of its process to explore potential strategic alternatives.
Shares were trading around $19.56 on Monday. The stock is up 0.7% over the last year.
The agribusiness and real estate development company said its board approved a share repurchase authorization to repurchase up to $30 million of its outstanding common stock.
Additionally, the formal exploration process for potential strategic alternatives has concluded. Limoneira said it remains committed to its strategic roadmap and that it will continue to be opportunistic with M&A and advancing initiatives to monetize non-core assets as part of its normal course of business.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 17, 2025 11:07 ET (15:07 GMT)
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