HONOLULU, June 25, 2015 /PRNewswire/ -- The Board of Directors of Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today declared a third quarter dividend of $0.18 per common share. The dividend represents a one-cent increase, or 5.9 percent, over the previous quarter's dividend and will be paid on September 3, 2015 to all shareholders of record as of the close of business on August 6, 2015.
"We are pleased to announce the third consecutive annual increase to Matson's quarterly dividend, reinforcing our Board's commitment to shareholders and reflecting the continued confidence we hold in the long-term prospects for our businesses," said Matt Cox, Matson's President and Chief Executive Officer. "Despite the incremental borrowing associated with the recent closing of our Alaska acquisition, Matson's balance sheet remains in great shape and, combined with our strong cash flow generation, will provide ample capacity to execute our fleet renewal program and pay down debt, while also continuing to return 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 economies of Hawaii, Alaska, Guam, Micronesia and select South Pacific islands, and operates a premium, expedited service from China to Southern California. The Company's fleet of 25 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.