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August 5 , 2021 ALICO incorporated Alico , Inc. Announces Financial Results for the Third Quarter and Nine Months Ended June 30 , 2021 FORT MYERS , Fla . , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- Alico , Inc. ( " Alico " or the " Company " ) ( Nasdaq : ALCO ) today announces financial results for the third quarter of fiscal year 2021 and the nine months ended June 30 , 2021 , the highlights which are as follows : • Final market prices per pound solids significantly increase in fiscal year 2021 with the Company's overall average realized / blended price up 31.7 % to $ 2.45 per pound solid . • Box production of fruit and average pound solids per box down from the previous year . • Company generated approximately $ 33.6 million of net cash provided by operating activities in first nine months of fiscal 2021 , a 59.1 % increase as compared to the same period in prior year . • Company reiterates updated guidance fornet income , EBITDA , adjusted net income and adjusted EBITDA for fiscal year 2021 . • Company closed Alico Ranch sales for approximately 18,500 acres during the third quarter ended June 30 , 2021 . • Alico Board of Directors approved a substantial increase in the quarterly dividend from $ 0.18 per common share to $ 0.50 per common share , effective the third quarter of fiscal year 2021 . Results of Operations For the nine months ended June 30 , 2021 , the Company recorded net income attributable to Alico common stockholders of approximately $ 35.8 million and earnings of $ 4.77 per diluted common share , compared to net income attributable to Alico common stockholders of approximately $ 6.5 million and earnings of $ 0.86 per diluted common share in the same period in the prior year . The increase in net income attributable to Alico common stockholders is primarily due to ( i ) higher gain on sales of real estate , property and equipment and assets held for sale recorded in the nine months ended June 30 , 2021 , as compared to the same period in fiscal year 2020 and ( ii ) an increase in the market price per pound solids for citrus fruit this past 2020/2021 harvest season because of favorable industry supply dynamics . Partially offsetting this increase has been a reduction in both box production and average pound solids per box of citrus fruit in the nine months ended June 30 , 2021 , as compared to the same period in the prior year . When both nine - month periods are adjusted for certain non - recurring items , the Company had adjusted net income of $ 0.94 per diluted common share for the nine months ended