|Tuesday March 12, 5:03 pm Eastern Time|
SOURCE: ML Macadamia Orchards
ML Macadamia Orchards, L.P. Announces 1st Quarter 2002 Distribution
HILO, Hawaii--(BUSINESS WIRE)--March 12, 2002-- ML Macadamia Orchards, L.P. (NYSE:NUT - news) announced today that a quarterly cash distribution of five cents ($0.05) per Class A Unit was declared at the March meeting of the Board of Directors of its general partner, ML Resources, Inc. (MLR). The distribution will be paid on May 15, 2002, to the unit holders of record as of Friday, March 29, 2002. This distribution marks the 64th consecutive quarterly dividend, dating back to the inception of the Partnership in 1986. The Partnership's previous quarterly distribution rate was also five cents per unit.
ML Macadamia Orchards, L.P. is the world's largest grower of macadamia nuts, owning or leasing 4,169 acres of orchards, where macadamia yields are the highest in the world. All of its orchards, assets and employees are based on the island of Hawaii.
This press release contains forward-looking statements regarding certain events and future performance of the Partnership that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These include statements, among others, regarding nut prices and collection of disputed receivables, which are based on certain assumptions and forecasts. The Partnership files documents with the Securities and Exchange Commission, such as Form 10-K, Form 10Q and Form 8-K reports, which contain a description of these and other risks and uncertainties that could cause actual results to differ from current expectations and the forward-looking statements contained in this press release.