Matson chief executive Matt Cox has sold 30,000 shares of his company for $1.14m.
According to Securities and Exchange Commission filings, Cox sold the first block of 15,000 shares Tuesday for $38.05 and the second Wednesday for $37.82.
Shares of the Hawaiian Jones Act player closed Tuesday at $38.29 and Wednesday at $37.59. Cox still owns more than 250,000 shares in the company.
The move comes days after Matson announced it would raise its dividend by 4.8% to $0.22 per share in the third quarter.
The announcement bumped up share prices slightly — Matson closed at $36.60 on Friday and opened at $36.91 Monday.
In the first quarter, Matson posted slightly lower profits, $12.5m versus $14.5m the year prior, thanks to higher vessel and terminal operating costs against lower container volume in Hawaii and Alaska.
