Matson, Inc. Buyback
OLI recorded this information on 11/4/2015
Share Amount Authorized:
Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today announced that its Board of Directors has authorized a share repurchase program of up to 3.0 million shares of common stock, representing approximately seven percent of the Company's currently issued and outstanding common stock, through November 2, 2018.
Matson is a holding company engaged in the provision of ocean transportation and logistics services. Co.'s Ocean transportation segment business is conducted through Matson Navigation Company, Inc., which provides a lifeline of ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia and operates an expedited service from China to Long Beach, CA, and provides services to Okinawa, Japan and various islands in the South Pacific. Co.'s Logistics business is conducted through Matson Logistics, Inc., an asset-light business that provides a variety of logistics services to its customers.
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Strong Buy (4.00 out of 4)