A&B Board of Directors Raises Dividend 16%.Increase Follows 11% Bump in 2006, Annual Rate Now $1.16 Per Share HONOLULU -- The Board of Directors of Alexander & Baldwin, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALEX) today announced a 16 percent increase in its second-quarter 2007 dividend to 29 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , from the previous rate of 25 cents per share. "Alexander & Baldwin (A&B) has a healthy balance sheet, solid cash flows and strong prospects for continuing growth in earnings. In short, our ability to pay higher dividends is sound," said W. Allen Doane, chairman of the board and chief executive officer of A&B. "The latest increase is significant as it reflects our commitment to sustained dividend growth and increased total shareholder return." The second-quarter dividend is payable on June 7, 2007 to shareholders of record as of the close of business on May 10, 2007. Alexander & Baldwin, Inc., headquartered in Honolulu, is engaged in ocean transportation and logistic lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation services, through its subsidiaries, Matson Navigation Company Matson Navigation Company, a subsidiary of Alexander & Baldwin, is a private ocean transportation company with roots extending into the late 19th century. It is credited with introducing mass tourism to Hawaii with the opening of the Moana Hotel (now known as the Moana Surfrider Hotel) , Inc. and Matson Integrated Logistics, Inc.; in real estate, through A&B Properties, Inc.; and in agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. , through Hawaiian Commercial & Sugar Company and Kauai Coffee Company, Inc. Additional information about A&B may be found at its web site: www.alexanderbaldwin.com. |
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