Matson Increase Quarterly Dividend 6.25 %
The Board of Directors of Matson, Inc. a leading U.S. carrier in the Pacific, informs it has declared a third quarter dividend of $0.17 per common share.
The dividend represents a one-cent increase, or 6.25 percent, over the previous quarter's dividend and will be paid on September 4, 2014 to all shareholders of record as of the close of business on August 7, 2014.
"This dividend increase underscores the strong cash flow generation of Matson's core businesses and the confidence we hold in our long-term prospects," said Matt Cox, Matson's President and Chief Executive Officer.
"Our financial strength provides ample capacity to fund our fleet renewal program and consider growth investments, while continuing to return capital to shareholders."
About the Company
Founded in 1882, Matson is a leading U.S. carrier in the Pacific. Matson provides a vital lifeline to the island economies of Hawaii, Guam, Micronesia and select South Pacific islands, and operates a premium, expedited service from China to Southern California. The Company's fleet consists of 18 owned and three chartered vessels including containerships, combination container/roll-on/roll-off ships, and custom-designed barges.
Established in 1987, Matson Logistics extends the geographic reach of Matson's transportation network throughout the continental U.S. Logistics services include domestic and international rail intermodal, highway brokerage and warehousing.