HONOLULU, June 25, 2020 /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 $0.23 per common
share. The dividend represents a one-cent, or 4.5%, increase over the previous
quarter's dividend and will be paid on September 3, 2020 to all shareholders of record
as of the close of business on August 6,
2020.
"We are pleased to announce the eighth consecutive annual
increase to Matson's quarterly dividend, underscoring our Board's
confidence in our long-term free cash flow growth as well as our
commitment to rewarding shareholders through dividends," said
Matt Cox, Matson's Chairman and
Chief Executive Officer. "Although the Company is facing the
challenges of the COVID-19 pandemic and subsequent economic
effects, the operating and financial actions we have taken in
recent months will help Matson weather the crisis. Matson
remains well-positioned for long-term growth in its ocean services
and logistics businesses."
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 a premium, expedited service
from China to Southern California and provides services to
Okinawa, Japan and various islands
in the South Pacific. 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 the continental
U.S. 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.
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, including without
limitation those statements regarding the COVID-19 pandemic and
subsequent economic effects. These statements 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 risks and
uncertainties described in the Company's Quarterly Report on Form
10-Q for the quarter ended March 31,
2020 and other subsequent filings by Matson with the
SEC. These forward-looking statements are not guarantees of
future performance. We do not undertake any obligation to
update our forward-looking statements.
|
Investor Relations
inquiries:
Lee
Fishman
Matson,
Inc.
510.628.4227
lfishman@matson.com
|
News Media
inquiries:
Keoni
Wagner
Matson,
Inc.
510.628.4534
kwagner@matson.com
|
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SOURCE Matson, Inc.