HONOLULU, June 22,
2023 /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 $0.32 per common share. The dividend
represents a one-cent, or 3.2%,
increase over the previous quarter's dividend and will be paid on
September 7, 2023 to all shareholders
of record as of the close of business on August 3, 2023.
"This announcement marks the eleventh consecutive annual
increase to Matson's quarterly dividend, reflecting our Board's
confidence in our long-term free cash flow growth," said
Matt Cox, Matson's Chairman and
Chief Executive Officer. "We will continue to be 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 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 of ocean freight transportation services 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 ports in Alaska 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 and Asia. Its integrated, asset-light
logistics services include rail intermodal, highway brokerage,
warehousing, freight consolidation, supply chain management, and
freight forwarding to Alaska. Additional information about
the Company is available at www.matson.com.
Forward Looking Statements
Statements in this news release that are not historical facts
are "forward-looking statements," within the meaning of the Private
Securities Litigation Reform Act of 1995, that involve a number of
risks and uncertainties that could cause actual results to differ
materially from those contemplated by the relevant forward-looking
statement, including but not limited to, statements about capital
allocation plans and the timing, manner and volume of repurchases
of common shares pursuant to the repurchase program. These
forward-looking statements are not guarantees of future
performance. This release should be read in conjunction with
our Annual Report on Form 10-K and our other filings with the SEC
through the date of this release, which identify important factors
that could affect the forward-looking statements in this
release. We do not undertake any obligation to update our
forward-looking statements.
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SOURCE Matson, Inc.