Alexander & Baldwin Fourth Quarter 2020 Dividend Authorized

Rhea-AI Summary

The Board of Directors of Alexander & Baldwin (NYSE:ALEX) approved a fourth quarter 2020 dividend of $0.15 per share, payable on January 12, 2021, to shareholders recorded as of December 28, 2020. This reinstatement reflects the Board's confidence in A&B's portfolio and the improving economy in Hawai'i. A&B owns approximately 3.9 million square feet of commercial space and is focused on enhancing its Hawai'i real estate assets while monetizing non-core holdings.

Positive

• Reinstatement of quarterly dividend signals confidence in business performance.
• Improving collections and occupancy rates observed.
• Strategic focus on expanding Hawai'i commercial real estate portfolio.

Negative

• None.

HONOLULU, Dec. 17, 2020 /PRNewswire/ -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE:ALEX) approved a fourth quarter 2020 dividend of $0.15 (fifteen cents) per share. The dividend is payable on January 12, 2021 to shareholders of record as of the close of business on December 28, 2020.

Chris Benjamin, A&B president & chief executive officer stated: "We are pleased to reinstate our quarterly dividend starting in the fourth quarter 2020. This decision reflects our Board's confidence in our high-quality portfolio, including improving collections and occupancy, as well as the health of the economy in Hawai'i and prospects for continued improvement in 2021."  

About Alexander & Baldwin, Inc.
Alexander & Baldwin, Inc. (A&B) is one of Hawai'i's premier commercial real estate companies and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases. These core assets comprise nearly 72% of A&B's total assets. A&B's non-core assets include renewable energy generation facilities, nearly 27,000 acres of agricultural and conservation land and a vertically integrated paving business. A&B is achieving its strategic objective of becoming a Hawai'i-focused commercial real estate company by expanding and strengthening its Hawai'i CRE portfolio and monetizing non-core assets. Over its 150-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

View original content to download multimedia:http://www.prnewswire.com/news-releases/alexander--baldwin-fourth-quarter-2020-dividend-authorized-301195602.html

SOURCE Alexander & Baldwin

FAQ

What is the dividend amount declared by Alexander & Baldwin for Q4 2020?

The dividend amount declared is $0.15 per share.

When will the dividend be paid to shareholders of Alexander & Baldwin?

The dividend will be paid on January 12, 2021.

What date is the record set for shareholders to receive the dividend?

The record date for the dividend is December 28, 2020.

How does the reinstatement of the dividend reflect on Alexander & Baldwin's performance?

The reinstatement indicates the Board's confidence in A&B's portfolio and the improving economy in Hawai'i.