Limoneira exits Chile, Yuma citrus; suspends dividends amid $26M in asset write-downs

Filed June 9, 2026 · Period ending April 30, 2026 · Compared to 10-Q Jun 9, 2025 · ~2 min read

Key Changes

• high

  Company sold Chilean farms (600 acres, $15M) and removed all Yuma lemon orchards (600 acres, $7.2M loss), while selling 80% of Windfall wine grape property ($16M, $9.3M impairment). Total land holdings fell 33% to 7,000 acres as lemon acreage dropped 26%.

  MD&A: Asset Dispositions verify on EDGAR →
• high

  Board suspended all dividends (common and preferred) in March 2026 to fund avocado expansion and housing development. Preferred dividend arrearages now total $125,000 with no resumption timeline specified.

  MD&A: Capital Allocation verify on EDGAR →
• high

  Lender twice deferred debt service coverage ratio testing (September 2025, December 2025), pushing next measurement to October 2027. Company added $5M short-term revolver (matures January 2027) and $4.8M equipment loans.

  MD&A: Credit Facility verify on EDGAR →