Matson As of September 21, 2021 ticker dps (an.) 2021 hike 2020 hike 2019 hike
MATX $1.20 30.4% 4.5% 4.8%
Business yield Hike yrs 5 yr CAGR freq. paid since
Logistics Services 1.5% 9 9.6% Quarter 2012
Matson hikes dividend by 30.4%

Matson Inc (MATX) will raise its quarterly dividend by 30.4 percent to 30 cents per share in 2021. This comes after a dividend hike of 4.5 percent to $0.23 per share in 2020. This marks the 9th consecutive year of dividend increases by the provider of ocean transportation and logistics services.

The next dividend will be paid on September 2, 2021 to all shareholders of record as of the close of business on August 5, 2021. A new annual rate of $1.20 per share yields 1.8% at at stock price of $64.31.

"We are pleased to announce this return of capital to shareholders," said Matt Cox, Matson's Chairman and Chief Executive Officer.  "The substantive increase in the dividend and the initiation of a new share buyback program reflects our Board's confidence in long-term free cash flow growth.  Last May we successfully launched a second expedited ocean service from China to the U.S. West Coast, the CLX+, to accommodate overwhelming demand for our original expedited China-to-Long Beach service.  The success of the CLX+ service is expected to continue to be a driver in free cash flow growth."   

Mr. Cox added, "After re-setting our dividend to this new level and providing maintenance capital expenditures to support ongoing operations, we will maintain our investment-grade balance sheet while also continuously seeking to acquire businesses and drive organic growth opportunities that meet our investment criteria.  We will be both disciplined and opportunistic in our capital allocation, including the execution of share repurchases and aligning dividend decisions with growth in our long-term free cash flow.  As always, we remain committed to return excess cash to shareholders as another means to create additional shareholder value over the long term."  

Originally founded in 1882, Matson is a provider of ocean transportation and logistics services. Matson services 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. Its integrated, asset-light logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, Asia supply chain services, and forwarding to Alaska. Matson was separated from Alexander & Baldwin on July 2, 2012.

Dividend Calendar

Look at the complete list of upcoming events
Ex-date Ticker Yield YTD hike
Sep 23 SRE 3.4% 5.3%
Sep 23 RL 2.5% 0.0%
Sep 23 FLS 2.3% 0.0%
Sep 23 XRAY 0.7% 10.0%
Sep 23 IFF 2.4% 2.6%
Sep 23 MDT 2.0% 8.6%
Sep 24 EQR 3.0% 0.0%
Sep 24 GE 0.3% 0.0%
Sep 24 CERN 1.2% 0.0%
Sep 27 LRCX 1.0% 15.4%