Alexander & Baldwin, Inc. (NYSE:ALEX – Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.222 per share by the financial services provider on Monday, July 8th. This represents a $0.89 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, June 14th.
Alexander & Baldwin has raised its dividend payment by an average of 37.4% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Alexander & Baldwin has a payout ratio of 134.8% meaning 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 Stock Performance
Shares of NYSE ALEX traded up $0.46 during midday trading on Friday, reaching $16.29. 101,537 shares of the company were exchanged, compared to its average volume of 311,515. The stock has a market cap of $1.18 billion, a P/E ratio of 40.88 and a beta of 1.21. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $19.99. The stock has a fifty day simple moving average of $16.38 and a 200 day simple moving average of $16.97. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46.
Analysts Set New Price Targets
Check Out Our Latest Research Report on ALEX
Alexander & Baldwin Company Profile
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.
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