Pacific Office Properties Trust Inc., the office real estate investment trust that owns seven buildings in Hawai'i as well as those in Southern California and Arizona, said its board of directors had declared a cash dividend of 5 cents a share.

The dividend will be payable on Jan. 15 to shareholders of record on Dec. 31. The company's strategy is based on one developed by The Shidler Group, a Honolulu-based company that has focused on acquiring commercial real estate in partnership with institutional co-investors. In addition to Pacific Office Properties Trust, the Shidler Group has founded three other publicly traded REITs, including Corporate Office Properties Trust, First Industrial Realty Trust and TriNet Corporate Realty Trust, which is now part of iStar Financial.