Matson has launched a share repurchase plan.
The Hawaiian Jones Act shipowner announced this week that its board had approved a programme allowing the buyback of 3m shares worth approximately $190m, or 7% of all outstanding shares.
The announcement came alongside news Matson bumped up its dividend by nearly a third to $0.30 for the third quarter.
"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," chief executive Matt Cox said in...
