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.
Fool contributor Eric Volkman has no position in Matson. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.