ALEXANDER & BALDWIN, INC. (NYSE:ALEX) Files An 8-K Other EventsItem 8.01. Other Events.
On January 23, 2018, Alexander & Baldwin, Inc., a Hawaii corporation (the “Company”), completed the payment of its previously announced special distribution (the “Special Distribution”) in an aggregate amount of $783 million (approximately $15.92 per share). The Special Distribution was paid through the issuance of 22,587,299 shares of the Company's common stock and the payment of $156.6 million in cash. The Special Distribution was paid to shareholders of record as of the close of business on November 29, 2017 (the “Record Date”). Shareholders had an opportunity to elect to receive the Special Distribution in the form of cash or additional shares of common stock, subject to a limit of $156.6 million of cash, in the aggregate, to be distributed (excluding any cash paid in lieu of issuing fractional shares). Shareholders who elected to receive payment in the form of cash received approximately $4.27 per share in cash and approximately 0.42 shares of common stock for each share held on the Record Date (with cash paid in lieu of fractional shares). Shareholders who elected to receive payment in additional shares of common stock, or who were treated as having elected to receive payment in additional shares of common stock due to failing to return a properly completed election form prior to 5:00 p.m. Eastern Time on January 12, 2018, received approximately 0.57 shares of common stock for each share held on the Record Date (with cash paid in lieu of fractional shares).
On January 23, 2018, the Company issued a press release announcing the completion of payment of the Special Distribution. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
Alexander & Baldwin, Inc. ExhibitEX-99.1 2 a2018-01pressreleasespecia.htm EXHIBIT 99.1 – SPECIAL DISTRIBUTION PAYMENT Exhibit Contact:Suzy [email protected] & Baldwin Announces Completion of Special Distribution PaymentHonolulu (January 23,…To view the full exhibit click here
About ALEXANDER & BALDWIN, INC. (NYSE:ALEX)
Alexander & Baldwin, Inc. (A&B) is engaged in real estate development, real estate leasing, materials and construction, and agribusiness. The Company operates in four segments: Real Estate Development and Sales, Real Estate Leasing, Materials and Construction, and Agribusiness. Real estate activities are conducted through A&B Properties, Inc. and other subsidiaries of A&B. The Real Estate Development and Sales segment is engaged in program of land stewardship, planning, entitlement, development, real estate investment, and sale of land and commercial and residential properties. The Real Estate Leasing segment owns, operates and manages a portfolio of over 60 retail, office and industrial properties in Hawaii and on the Mainland. The Materials and Construction segment performs asphalt paving as prime contractor and subcontractor. The Agribusiness segment consists of sugar plantation on the island of Maui, operated by its Hawaiian Commercial & Sugar Company (HC&S) division.
