Matson, Inc. (NYSE:MATX) Shareholders to Get $0.38 Quarterly Dividend

Key Points

• Matson declared a quarterly dividend of $0.38 per share, payable December 3 to shareholders of record November 5. The dividend equates to $1.52 annually and a 0.6% yield.
• Matson has raised its dividend for 13 consecutive years, while its 14.9% payout ratio indicates substantial earnings coverage; analysts expect next year’s payout ratio to fall to 8.8%.
• The company recently reported better-than-expected quarterly results, with earnings of $4.27 per share and revenue of $969.4 million, up 16.7% year over year.

Matson, Inc. (NYSE:MATX - Get Free Report) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.38 per share by the shipping company on Thursday, December 3rd. This represents a $1.52 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, November 5th.

Matson has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Matson has a payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Matson to earn $17.20 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 8.8%.

Matson Price Performance

NYSE:MATX traded down $1.13 during trading hours on Wednesday, hitting $236.14. The stock had a trading volume of 21,804 shares, compared to its average volume of 286,723. The company has a 50 day simple moving average of $226.20 and a two-hundred day simple moving average of $203.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. Matson has a one year low of $92.64 and a one year high of $240.87. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 15.77 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The firm had revenue of $969.40 million for the quarter, compared to analysts' expectations of $893.91 million. During the same quarter in the prior year, the firm posted $2.92 earnings per share. The business's quarterly revenue was up 16.7% on a year-over-year basis. Research analysts forecast that Matson will post 16.01 earnings per share for the current fiscal year.

Matson Company Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containerized and bulk cargo, automobiles and other goods between the U.S. mainland and Hawaii, Alaska, Guam, Micronesia and selected South Pacific destinations. Matson also operates services linking the U.S. West Coast with China, Japan and South Korea.

The company serves a broad range of customers, including retailers, manufacturers, wholesalers, government agencies and individual consumers.

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