Alexander & Baldwin Announces 10% Increase in Common Stock Dividend

Rhea-AI Summary

Alexander & Baldwin (NYSE:ALEX) has announced a $0.22 per share dividend for Q3 2022, marking a 10% increase from Q2 2022's $0.20. This is the third consecutive quarterly increase, reflecting strong commercial real estate performance. The dividend will be payable on October 5, 2022, to shareholders of record by September 19, 2022. CEO Chris Benjamin expressed satisfaction with the portfolio's performance, which supports the dividend increase.

Positive

• Dividend increase of 10% to $0.22 per share reflects strong commercial real estate results.
• Third consecutive quarterly dividend increase demonstrates company stability.

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• None.

HONOLULU, July 26, 2022 /PRNewswire/ -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE:ALEX) approved a third quarter 2022 dividend of $0.22 (twenty-two cents) per share, an increase of two cents per share from the second quarter 2022 dividend of $0.20 per share, and the third consecutive quarterly rate increase. The quarterly dividend increase reflects strong second quarter commercial real estate results and expected performance for the remainder of 2022. The dividend is payable on October 5, 2022, to shareholders of record as of the close of business on September 19, 2022.

"We are pleased with the continued strong performance of our portfolio, which allows the Board to increase our dividend again this quarter," said Chris Benjamin, A&B President and Chief Executive Officer.

About Alexander & Baldwin, Inc.
Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 12 industrial assets and 4 office properties, as well as 141 acres of ground leases. A&B is expanding and strengthening its Hawai'i CRE portfolio and achieving its strategic focus on commercial real estate by monetizing its remaining non-core assets. Over its 152-year history, A&B has evolved with the state's economy and played a leadership role in the development of the agricultural, transportation, tourism, construction, residential and commercial real estate industries. Learn more about A&B at www.alexanderbaldwin.com.

Contact:
A&B Investor Relations
(808) 525-8475
investorrelations@abhi.com

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SOURCE Alexander & Baldwin, Inc.

FAQ

What is the dividend amount announced by Alexander & Baldwin for Q3 2022?

The dividend amount announced for Q3 2022 is $0.22 per share.

When is the dividend payable for Alexander & Baldwin's Q3 2022?

The dividend is payable on October 5, 2022.

What was the previous dividend amount before the increase announced for Q3 2022?

The previous dividend amount was $0.20 per share for Q2 2022.

Who is the CEO of Alexander & Baldwin?

The CEO of Alexander & Baldwin is Chris Benjamin.

What are the dividend record dates for Alexander & Baldwin's Q3 2022 payment?

The record date for the dividend is September 19, 2022.