Real estate investor Alexander & Baldwin (ALEX 2.09%) announced today that it was initiating a dividend for the fourth quarter of 2013 of $0.04 per share.
The board of directors said the quarterly dividend is payable on Dec. 5 to the holders of record at the close of business on Nov. 7. The regular dividend payment equates to a $0.16-per-share annual dividend, yielding 0.4% based on the closing price today of Alexander & Baldwin's stock.
The Hawaiian company has interests in real estate development, commercial real estate, agriculture, natural materials, and infrastructure construction. With ownership of over 87,000 acres in the state, Alexander & Baldwin is the state's fourth largest private landowner, and one of Hawaii's most active real estate investors.