Alexander & Baldwin, Inc. (NYSE:ALEX) Announces Quarterly Dividend of $0.22

Alexander & Baldwin, Inc. (NYSE:ALEX) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Investors of record on Friday, December 20th will be paid a dividend of 0.2225 per share by the financial services provider on Wednesday, January 8th. This represents a $0.89 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, December 20th.

Alexander & Baldwin has increased its dividend by an average of 37.4% per year over the last three years. Alexander & Baldwin has a payout ratio of 141.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.89 annual dividend with an expected future payout ratio of 79.5%.

Alexander & Baldwin Price Performance

ALEX stock opened at $18.65 on Wednesday. The company has a market capitalization of $1.35 billion, a PE ratio of 30.07 and a beta of 1.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $19.11 and its two-hundred day moving average is $18.61. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALEX shares. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th.

About Alexander & Baldwin

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, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.