Matson increases quarterly dividend to $0.34 per share

The Board of Directors of Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, has declared a third-quarter dividend of $0.34 per common share. The dividend represents a two-cent, or 6.3%, increase over the previous quarter's dividend and will be paid on September 5, 2024, to all shareholders of record as of the close of business on August 1, 2024.

"This announcement marks the twelfth consecutive annual increase to Matson's quarterly dividend," said Matt Cox, Matson's Chairman and Chief Executive Officer. "The increase reflects the strength of our business and confidence in our long-term free cash flow growth. As always, we remain committed to the return of excess capital to shareholders through the execution of share repurchases after funding our dividend, supporting our operations with maintenance capital, and investing in growth opportunities, while maintaining an investment grade balance sheet."