Leading U.S. carrier in the Pacific, Matson, declared a third quarter dividend of $0.16 per common share, a 1% increase over previous quarter.
"In recognition of the continued soundness of Matson's businesses and our strong financial position, we are pleased to increase our quarterly cash dividend to 16 cents per share," said Matt Cox, Matson's President and Chief Executive Officer. "Our business model continues to generate strong operating cash flows that enable us to invest in growth opportunities, while also returning capital to shareholders."
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 of 18 vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges.