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The Honolulu Advertiser

Posted at 11:45 a.m., Thursday, July 27, 2006

BUSINESS BRIEFS
Ilikai hotel to lay off 170 as it renovates

Advertiser Staff

The Ilikai hotel will lay off about 170 employees in September while its Yacht Harbor Tower undergoes renovations, owner Brian Anderson of Anekona Islander LLC told the state labor department in a letter this week.

Anderson told the department it's unclear how long the lay-off may last and that at this time it can't be guaranteed workers will be recalled. But he said he hopes to re-open before the end of the year.

Anderson bought the Ilikai's 703 hotel units and commercial areas this month. and has said he planned to sell the 360-room Yacht Harbor Tower to an unidentified hotel operator.



Central Pacific raises dividend by 9.5%

Central Pacific Financial Corp. said it will raise its dividend by 9.5 percent in the third quarter.

The company's board of directors approved a 23 cent per share dividend for shareholders of record as of Aug. 18. The dividend, payable on Sept. 15, compares with 21 cent dividend in the second quarter.

For the first nine months this year, Central Pacific said its dividend will be 65 cents, which is up 20.3 percent from the year-earlier period.