Mac nut firm's payout drops

Associated Press

ML Macadamia Orchards LP said yesterday it will pay a first-quarter cash distribution of 5 cents a share, down from 12.5 cents a year earlier, as the company faces uncertain nut prices. Officials for the limited partnership said nut pricing is likely to remain unclear until resolution of its legal dispute with Mauna Loa Macadamia Nut Corp., the exclusive buyer, over questions of payment for certain nut deliveries.