HONOLULU, June 22,
2022 /PRNewswire/ -- The Board of Directors of
Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific,
today declared a third quarter dividend of $0.31 per common share. The dividend
represents a one-cent, or 3.3%,
increase over the previous quarter's dividend and will be paid on
September 1, 2022 to all shareholders
of record as of the close of business on August 4, 2022.
"This announcement marks the tenth consecutive annual increase
to Matson's quarterly dividend, underscoring our Board's confidence
in our long-term free cash flow growth," said Matt Cox, Matson's Chairman and Chief Executive
Officer. "We are disciplined in our approach to capital
allocation and are committed to the return of excess capital to
shareholders after funding our dividend, supporting our operations
with maintenance capital, and investing in organic and inorganic
growth opportunities, while maintaining an investment grade balance
sheet."
About the Company
Founded in 1882, Matson (NYSE: MATX) is a leading provider of
ocean transportation and logistics services. Matson provides
a vital lifeline to the domestic non-contiguous economies of
Hawaii, Alaska, and Guam, and to other island economies in
Micronesia. Matson also
operates premium, expedited services from China to Long Beach,
California, provides service to Okinawa, Japan and various islands in the
South Pacific, and operates an international export service from
Dutch Harbor to Asia. The
Company's fleet of owned and chartered 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 North America. Its integrated, asset-light
logistics services include rail intermodal, highway brokerage,
warehousing, freight consolidation, Asia supply chain services, and forwarding to
Alaska. Additional information about the Company is available
at www.matson.com.
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SOURCE Matson, Inc.