Annual report pursuant to section 13 and 15(d)

Treasury Stock

v2.3.0.11
Treasury Stock
12 Months Ended
Sep. 30, 2011
Treasury Stock [Abstract]  
Treasury Stock

Note 11. Treasury Stock

Effective November 1, 2008, the Company's Board of Directors authorized the repurchase of up to 350,000 shares of the Company's common stock through November 1, 2013 for the purpose of funding restricted stock grants under its 2008 Plan, which was approved by shareholders on February 20, 2009. Prior to November 2008, Alico provided incentives under its 1998 Plan, and was authorized to purchase up to 650,000 shares. The stock repurchases began in November 2005 and can be made on a quarterly basis until November 1, 2013, through open market transactions at times and in such amounts as the Company's broker determines subject to the provisions of SEC Rule 10b-18.

The following table provides information relating to purchases of the Company's common shares on the open market pursuant to the 2008 Plan for the following fiscal years:

 

Fiscal period ended

   Total
number of
shares
purchased
     Average price
paid  per
share
     Total  shares
purchased
as part of
publicly
announced
plan or
program
     Total dollar
value of
shares
purchased
 
     (Dollars in thousands, except share data)  

September 30, 2011

     48,280       $ 24.96         168,984       $ 1,205   

September 30, 2010

     23,466       $ 26.74         120,704       $ 628   

September 30, 2009

     25,500       $ 36.63         97,238       $ 934   

The following table outlines the Company's treasury stock transactions during the past two fiscal years:

 

     Shares     Cost  
     (Dollars in thousands, except share data)  

Balance September 30, 2009

     1,905      $ 52   

Purchases

     23,466        628   

Issuances

     (17,905     (508
  

 

 

   

 

 

 

Balance September 30, 2010

     7,466        172   

Purchases

     48,280        1,205   

Issuances

     (19,030     (465

Retired

     (2,123     (50
  

 

 

   

 

 

 

Balance September 30, 2011

     34,593      $ 862