A&B First-Quarter 2010 Dividend Authorized

January 28, 2010
HONOLULU, Jan 28, 2010 (BUSINESS WIRE) -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE:ALEX) today announced a first-quarter 2010 dividend of 31.5 cents per share, unchanged from previous quarters. The dividend is payable on March 4, 2010 to shareholders of record as of the close of business on February 11, 2010.

Alexander & Baldwin, Inc., headquartered in Honolulu, is engaged in ocean transportation and logistics services, through its subsidiaries, Matson Navigation Company, Inc., Matson Integrated Logistics, Inc. and Matson Global Distribution Services; in real estate, through A&B Properties, Inc.; and in agribusiness, through Hawaiian Commercial & Sugar Company and Kauai Coffee Company, Inc. Additional information about A&B may be found at its web site: www.alexanderbaldwin.com.

SOURCE: Alexander & Baldwin, Inc.

Alexander & Baldwin, Inc.
For media inquiries:
Meredith J. Ching, 808-525-6669
mching@abinc.com
or
For investor relations inquiries:
Christopher J. Benjamin, 808-525-8405
invrel@abinc.com