Matson Inc
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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Item 5.
General Information: Matson’s common stock is traded on the New York Stock Exchange under the ticker symbol “MATX”. As of February 14, 2025, there were 1,796 shareholders of record of Matson common stock.
Stockholder Return Performance Graph and Trading Information: The following information in this Item 5 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.
The cumulative total return listed below assumed an initial investment of $100 and reinvestment of dividends at each fiscal end and measures the performance of this investment as of the last trading day in the month of December for each of the five years ended December 31, 2024. The graph is a historical representation of past performance only and is not necessarily indicative of future performance.
The graph above represents $100 invested on December 31, 2019 in the Company’s stock or the indicated index, including reinvestment of dividends.
Trading volume averaged 271,862 shares a day in 2024, compared with 274,339 shares a day in 2023 and 431,336 shares a day in 2022, as reported by the New York Stock Exchange.
*Dividends:*Dividends per share of common stock declared by the Company for each fiscal quarter during 2024, 2023 and 2022 were as follows:
| · · · · · · · · · · | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| · · · · | |||||||||
| Dividends Declared · · 2024 · · 2023 · · 2022 | |||||||||
| First Quarter | | $0.32 | $0.31 | $0.30 | | ||||
| Second Quarter | | | 0.32 | | 0.31 | | | 0.30 | |
| Third Quarter | | | 0.34 | | 0.32 | | | 0.31 | |
| Fourth Quarter | | | 0.34 | | 0.32 | | | 0.31 | |
| Total | | $1.32 | $1.26 | | $1.22 | | |||
The Board also declared a cash dividend of $0.34 per share for the first quarter 2025, payable on March 6, 2025 to shareholders of record on February 6, 2025. Although Matson expects to continue paying quarterly cash dividends on its common stock, the declaration and payment of dividends are subject to the discretion of the Board and depends upon Matson’s financial condition, results of operations, cash requirements and other factors deemed relevant by the Board.
*Share Repurchases:*The following is a summary of common stock repurchased by the Company during the three months ended December 31, 2024:
| | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|
| · · · · Total Number of · Maximum Number | ||||||||||
| · · · · · · · Shares Purchased · · of Shares that May | ||||||||||
| · · Total Number of · · · · · as Part of Publicly · · Yet Be Purchased | ||||||||||
| · · Shares · · Average Price · · Announced Plans or · · Under the Plans or | ||||||||||
| Period · · Purchased · · Paid Per Share · · Programs (1) (2) · · Programs | ||||||||||
| October 1 – 31, 2024 | | 75,000 | $136.20 | | 75,000 | | 969,077 | | ||
| November 1 – 30, 2024 | | 61,550 | | | 157.20 | 61,550 | | 907,527 | | |
| December 1 – 31, 2024 | | 77,000 | | | 148.86 | 77,000 | | 830,527 | | |
| Total | 213,550 | | $146.81 | 213,550 | | | | |||
| (1) | On June 24, 2021, Matson’s Board approved a share repurchase program of up to 3.0 million shares of common stock, with subsequent approvals for the addition of 3.0 million shares on each of January 27, 2022, August 23, 2022 and April 27, 2023, for an aggregate total authorization of 12.0 million shares of common stock. The share repurchase program expires on December 31, 2025. Shares may be repurchased in the open market from time to time, and may be made pursuant to a trading plan in accordance with Rule 10b5-1 of the Security Exchange Act of 1934. |
| (2) | Amounts exclude shares withheld for employee taxes upon vesting of stock-based awards. |
On February 27, 2025, the Company’s Board approved an additional 3.0 million shares of common stock to be added to the Company’s existing share repurchase program and extended the program’s expiration date to December 31, 2027.
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