BUSINESS BRIEFS
Bank parent dividend at 36¢

Advertiser Staff

City Bank parent CB Bancshares Inc. yesterday declared a cash dividend of 36 cents per share payable Sept. 29 to shareholders as of Sept. 15.

The dividend is more than triple the typical 11 cent-per-share quarterly payout over the past two years for the owner of Hawai'i's fourth-largest bank. Lionel Tokioka, CB Bancshares board chairman, said the dividend is an effective use of cash given recent tax legislation.

The bank is fighting off an unsolicited takeover attempt by rival Central Pacific Bank.

Hawaiian gets talks extension

Hawaiian Airlines has received a third extension to renegotiate aircraft lease terms with Boeing Capital Corp. Hawaiian, which filed for bankruptcy protection in March, wants to restructure agreements for 16 planes it leases from Boeing. The extension expires Aug. 31.

Airline may suspend flights

Japan Airlines said it may suspend flights between the northern Japanese city of Sendai and Honolulu in the second half because of falling demand. The airline operates four weekly flights between Sendai and Honolulu. The suspension would be part of the airline's moves to cope with a slump in travel.