1960
It was during 1960 that Alico filed its first annual report. The Company's revenue totaled $247 thousand. While oil lease income comprised almost half of the total, the largest share of operating revenue came from forest products. The second largest income contributor was from cattle sales, while citrus fruit revenue was third. The Company reported assets totaling $2.8 million and recorded a $28 thousand loss for the year. The Company's first Chairman of the Board was A. Lee M. Wiggins. It was in 1961 that Ben Hill Griffin, Jr., was first elected to the Board. In 1965, Alico's stock (2,800,000 shares) was registered with the Securities and Exchange Commission. In 1966 W. T. Rice was elected Chairman, replacing Mr. Wiggins, who had retired.
During the 1960s, the Company began to consolidate its land holdings (216,626 acres by 1970) while emphasizing capital development that would ultimately be the foundation of what has become one of the most successful agribusiness companies in the state of Florida.
The Company focused on developing roads, water control facilities, pasture improvements and various infrastructure needs. These efforts facilitated the expansion of citrus operations and greatly improved cattle production capabilities. By the end of the decade the Company had clearly changed its direction with respect to operations. Citrus fruit sales had become the clear earnings leader; followed by cattle sales, oil lease and land rentals and finally forest products.
