USA: ML Macadamia Orchards, L.P. announces third quarter distribution
ML Macadamia Orchards, L.P. (NYSE:NUT) announced today that a quarterly cash distribution of $0.125 per Class A Unit was declared Friday, September 8, 2000 at a meeting of the Board of Directors of its general partner, ML Resources, Inc. The distribution will be paid on Wednesday, November 15, 2000, to unitholders of record as of Friday, September 29, 2000. The $0.125 cash distribution indicates an annualized rate of $0.50 and a yield of 10.4%, based on the NYSE closing price of $4.81, as of September 8, 2000. This payment also represents a 25% increase over last year's distribution rate and will be the 58th consecutive distribution paid since the Partnership's inception in 1986. ML Macadamia Orchards, L.P. is the world's largest grower of macadamia nuts, owning or leasing 4,169 acres of orchards on the island of Hawaii, where macadamia yields are the highest in the world.
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