HONOLULU, June 23, 2016 /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 $0.19 per common share. The dividend represents a one-cent increase, or 5.6 percent, over the previous quarter's dividend and will be paid on September 1, 2016 to all shareholders of record as of the close of business on August 4, 2016.
"We are pleased to announce the fourth consecutive annual increase to Matson's quarterly dividend, underscoring the strong cash flow generation of Matson's core businesses and the confidence we hold in our long-term prospects," said Matt Cox, Matson's President and Chief Executive Officer. "Our financial strength provides ample capacity to fund our fleet renewal program, consider growth investments, and 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 23 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.