Alexander & Baldwin (ALEX) will raise its quarterly dividend by another 15.2 percent to 19 cents per share in 2019. Earlier this year the commercial real estate company also hiked its dividend.

The next dividend is payable on September 5, 2019 to shareholders of record as of the close of business on August 12, 2019.

"This 2.5-cent per share quarterly dividend increase reflects continued strong earnings growth in our commercial real estate portfolio, fueled by the addition of several newly acquired assets, the opening of Lau Hala Shops (Oahu) and Ho'okele Shopping Center (Maui), and solid earnings growth in our 'same-store' portfolio. When combined with a 2-cent per share increase in our dividend last quarter, this represents a 31-percent increase from our first quarter dividend level," said Chris Benjamin, A&B President and Chief Executive Officer.

Alexander & Baldwin, Inc. is Hawai`i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. A&B is a fully integrated real estate investment trust and owns, operates and manages primarily retail and industrial space in Hawai`i, and is a major landowner in the state. A&B also is Hawai`i's largest construction materials company and paving contractor. The company reinstated a quarterly dividend in 2019.