Matson Boosts & Extends Share Repurchase Program

• The Board of Directors of the U.S. carrier Matson Inc (NYSE: 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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