Matson Increases Quarterly Dividend By 5.6 Percent To $0.19 Per Share

By Finance

The Board of Directors of Matson, Inc. (Matson) (NYSE: MATX), a leading U.S. carrier in the Pacific, yesterday declared a third quarter dividend of $0.19 per common share. The dividend represents a one-cent increase, or 5.6 percent, over the previous quarter's dividend and will be paid on September 1, 2016 to all shareholders of record as of the close of business on August 4, 2016

Matson Increases Quarterly Dividend By 5.6 Percent To $0.19 Per Share

Matson Container ship Maunawili - Image: Steve Slead

"We are pleased to announce the fourth consecutive annual increase to Matson's quarterly dividend, underscoring the strong cash flow generation ofMatson'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, consider growth investments, and return capital to shareholders."

Source: Matson