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Matson (NYSE: MATX ) is soon to ship a few more coins in shareholder payouts to its investors. The company has declared a new dividend of $0.16 per share, to be paid on September 5 to shareholders of record as of August 1. That amount is $0.01, or 7%, higher than each of the firm's previous four disbursements of $0.15 per share.
As a young firm, Matson has only been paying dividends for a short time. It began its quarterly payouts last year after being spun off from Alexander & Baldwin Holdings.
The new dividend annualizes to $0.64 per share. That yields 2.6% at Matson's most recent closing stock price of $24.99.