Matson announced an expansion of its ongoing share repurchase program and declared its Q2 dividend. The Board of Directors approved adding 3 million shares to the existing buyback program and extended its duration through December 31, 2029. As of April 23, 2026, approximately 0.7 million shares remained under the current authorization.
Matson also declared a quarterly dividend of $0.36 per common share. The dividend will be paid on June 4, 2026, to shareholders on record as of May 7, 2026. Adding 3 million more shares to the repurchase program signals continued capital allocation discipline.
Matson Chairman and CEO Matt Cox: "We are pleased to announce an additional three million shares to our existing share repurchase program. Since we commenced our share repurchase program in August 2021, we have repurchased approximately 14.3 million shares, or approximately 33% of the then outstanding shares, for a total cost of $1.3 billion. Going forward, we will continue to be both disciplined and opportunistic in our capital allocation, and we remain committed to returning excess cash to shareholders."
Shares may be repurchased periodically on the open market at the company's discretion, taking into account capital requirements, share price levels and broader market conditions. Matson may also utilize Rule 10b5-1 plans to facilitate repurchases. The program is flexible and may be suspended or discontinued at any time, depending on market developments and business needs.
Key Takeaways:
1. Matson expanded its share repurchase program by 3 million shares and extended it through December 31, 2029.
2. As of April 23, 2026, about 0.7 million shares remained under the existing authorization.
3. The Q2 dividend is $0.36 per share, payable June 4, 2026.
4. Since August 2021 the company has bought back 14.3 million shares (33% of the then outstanding) for $1.3 billion.
5. Repurchases may occur on the open market or via Rule 10b5-1 plans; the program is flexible.
