Matson Increases Quarterly Dividend

 

The board of directors of Matson, Inc., a U.S. carrier in the Pacific, today declared a third quarter dividend of $0.18 per common share. The dividend represents a one-cent increase, or 5.9 percent, over the previous quarter's dividend and will be paid on September 3, 2015 to all shareholders of record as of the close of business on August 6, 2015.

 

"We are pleased to announce the third consecutive annual increase to Matson's quarterly dividend, reinforcing our board's commitment to shareholders and reflecting the continued confidence we hold in the long-term prospects for our businesses," said Matt Cox, Matson's president and chief executive officer. "Despite the incremental borrowing associated with the recent closing of our Alaska acquisition, Matson's balance sheet remains in great shape and, combined with our strong cash flow generation, will provide ample capacity to execute our fleet renewal program and pay down debt, while also continuing to return capital to shareholders."