Matson(MATX) Prnewswire·2025-02-27 21:14Core Viewpoint - Matson, Inc. has approved an increase of three million shares to its existing share repurchase program, extending it until December 31, 2027, with 0.5 million shares remaining as of February 26, 2025 [1][2]. Company Overview - Matson, Inc., founded in 1882, is a prominent provider of ocean transportation and logistics services, primarily serving the non-contiguous economies of Hawaii, Alaska, and Guam, as well as other island economies in Micronesia [3]. - The company operates a fleet that includes containerships, combination container and roll-on/roll-off ships, and custom-designed barges, and offers logistics services that extend throughout North America and Asia [3]. Share Repurchase Program - Since the initiation of the share repurchase program in August 2021, Matson has repurchased 11.5 million shares for approximately $1.0 billion [2]. - The company plans to continue its disciplined and opportunistic approach to capital allocation, focusing on returning excess cash to shareholders to enhance long-term shareholder value [2]. - Shares will be repurchased in the open market at the company's discretion, influenced by capital needs, market price, and general market conditions [2].