Align the selected elements using the spacing predefined in the drop down menu as shown below or choosing custom to set it in the Align to Grid Dialog. The predefined spacing can be set under the preference item Align to Grid.
The example below shows how to use this function. Suppose we have six text elements added on a page like the following.
Though we can align them manually one by one, using this function will make the task more easier. Selecting all the elements above and apply this function by selecting "20" from the drop down menu. They will be aligned as follows: