Friday, July 13, 2018

Matson Earnings Up

By Karen Robes Meeks

Matson, Inc.’s Board of Directors recently announced a third quarter dividend of $0.21 per common share, which represents a one-cent (or five percent) increase over the dividend from the prior quarter.

“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 Hawaii 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.”

The dividend will be allocated to all shareholders on September 6.