Matson Boosts & Extends Share Repurchase Program

  • The Board of Directors of the U.S. carrier Matson Inc MATX approved adding three million shares to the existing nine million share repurchase program.
  • The board has also extended the existing repurchase program to December 31, 2025.
  • As of April 26, 2023, the existing share repurchase program had approximately 0.7 million shares remaining.
  • The Board also declared a second-quarter dividend of $0.31 per common share. 
  • The dividend will be paid on June 1, 2023, to shareholders of record on May 11, 2023.
  • "Since we commenced our share repurchase program in August 2021, we have repurchased approximately 8.3 million shares for a total cost of nearly $650 million," said chairman and CEO Matt Cox.
  • The company held cash and equivalents of $88.0 million as of March 31, 2023.
  • Price Action: MATX shares are trading higher by 7.6% at $68.88 on the last check Friday.
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