Tuesday, June 18, 2019

Matson Dividends Up

By Karen Robes Meeks

Honolulu-based Matson Inc.’s board of directors recently announced a third quarter dividend of $0.22 per common share, a 4.8 percent increase from the previous quarter's dividend.

Shareholders on record as of Aug. 1 are expected to be paid on Sept. 5.

"We are pleased to announce the seventh consecutive annual increase to Matson's quarterly dividend, underscoring our Board's confidence in our long-term free cash flow growth as well as our commitment to rewarding shareholders through dividends," said Matson's Chairman and Chief Executive Officer Matt Cox.

"Over the course of the Hawaii fleet renewal program we have prudently managed our debt leverage and maintained strong operating and cash flow results,” he continued. “As we near the end of the renewal program, our focus remains squarely on preserving our low-cost balance sheet by de-levering, allocating capital judiciously to organic growth projects and strategic acquisitions that meet our returns objectives, as well as returning capital to shareholders."