Matson Increases Quarterly Dividend To $0.16 Per Share
HONOLULU, June 27, 2013 /PRNewswire/ -- The Board of Directors of Matson, Inc. (MATX) ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today declared a third quarter dividend of $0.16 per common share. The dividend represents a one-cent increase over the previous quarter's dividend and will be paid on September 5, 2013 to all shareholders of record as of the close of business on August 1, 2013.
"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."
About the Company
Founded in 1882, Matson is a leading U.S. carrier in the Pacific. 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. Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout the continental U.S. Its integrated, asset-light logistics services include rail intermodal, highway brokerage and warehousing. Additional information about Matson, Inc. is available at www.matson.com.
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SOURCE Matson, Inc.