Posted on: Thursday, July 29, 2004
BUSINESS BRIEFS
CB Bancshares dividend up 17%
Advertiser Staff
CB Bancshares, the parent of City Bank, declared a cash dividend of 42 cents a share payable Sept. 10 to shareholders of record on Sept. 1. The cash payout is nearly 17 percent higher than the dividend paid in the corresponding quarter a year ago.
Alexander & Baldwin Inc. expects the charter agreement between its Matson Navigation unit and American President Lines Ltd. to expire in February 2006, according to a filing yesterday with the Securities and Exchange Commission.
Matson and APL operate a weekly shipping service to Guam. Matson's revenue from that alliance is about $35 million. The company expects to see annual profit cut $10 million to $20 million after the agreement expires.
Hilton Hotels Corp. said its second-quarter earnings grew 39 percent to $75 million. The company said its hotels in Hawai'i and in six cities elsewhere posted particularly good results and its vacation ownership business had strong sales in Hawai'i, Las Vegas and Orlando.
Matson alliance expires in '06
Profits rise 39% at Hilton Hotels
