Alexander & Baldwin ( ALEX) said Monday that it has repurchased $63 million of its common stock under an accelerated share repurchase program. The company is acquiring a minimum of 1.345 million of its shares. Some 984,000 shares already have been acquired and 361,000 shares will be acquired on July 12. The company said it could also acquire up to an additional 184,000 of its shares for no additional consideration. The company also purchased 200,000 shares of its common stock through open-market transactions in the latter part of June for about $8.5 million. The company also said that shares repurchased will have a negligible impact on the second-quarter earnings a share as repurchased plan were retired in late June. "We've responded to the recent softness in A&B's stock price to make an attractive investment and return cash to our shareholders," the company said. "We are confident in our ability to take this step while maintaining access to capital to fund our business growth strategies and our active capital investment program." Shares rose 38 cents Monday to $43.16.