Maui Business

Matson Third Quarter Dividend Up 5% To $0.21 Per Share

June 29, 2018, 11:46 AM HST
* Updated June 29, 1:31 PM
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Matson container. Photo by Wendy Osher.

The Board of Directors of Matson, Inc. today declared a third quarter dividend of $0.21 per common share.

The dividend represents a one-cent, or 5%, increase over the previous quarter’s dividend and will be paid on Sept. 6, 2018 to all shareholders as of the close of business on Aug. 2, 2018.

“We are pleased to announce an increase to our quarterly dividend in the third quarter for the sixth consecutive year, underscoring our Board’s confidence in the long-term prospects for our businesses and commitment to rewarding shareholders through dividends,” said Matt Cox, Matson’s Chairman and Chief Executive Officer. “While we expect leverage to increase as our fleet and infrastructure investments in Hawaiʻi progress, our healthy balance sheet, strong operating cash flows, and continued access to attractive financing sources provide ample capacity to fund the fleet renewal and related infrastructure, consider growth investments, and return capital to shareholders.”

Founded in 1882, Matson is a leading provider of ocean transportation and logistics services.

Matson provides a vital lifeline to the domestic non-contiguous economies of Hawaiʻi, Alaska, and Guam, and to other island economies in Micronesia. Matson also operates a premium, expedited service from China to Southern California and provides services to Okinawa, Japan and various islands in the South Pacific.

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