Matson adds 1 cent to quarterly dividend

Shareholders of Matson Inc. will get a little more return on their investment after the company’s board of directors elected to increase a stock dividend.

Matson announced Thursday that it will pay a third-quarter dividend of 17 cents per common share, up from 16 cents for the prior quarter.

The company, Hawaii’s biggest ocean cargo carrier, said the increase underscores its "strong" cash-flow generation and confidence in long-term prospects that include building two new ships.

"Our financial strength provides ample capacity to fund our fleet renewal program and consider growth investments, while continuing to return capital to shareholders," Matt Cox, Matson president and CEO, said in a statement.

The dividend increase to be paid Sept. 4 to all shareholders of record as of Aug. 7 follows a slide in Matson net income to $3.4 million, or 8 cents a share, in the first quarter from $9.1 million a year earlier.

Matson also doubled the amount of cash and cash equivalents it held at the end of the first quarter to $230 million from $115 million at the end of last year.

Maui vacation rental stay is fourth costliest

A weeklong stay for a family of four in a Maui vacation rental costs about $2,277.81, making the Valley Isle the fourth most expensive market in the U.S., according to the travel site TripAdvisor.

Maui’s food costs were the most expensive of the top 15 markets at $41.14, 58 percent more than TripAdvisor’s average of $26.03. A restaurant meal for four on Maui goes for $148.70, easily topping $132.89 in Martha’s Vineyard, the most expensive U.S. market for a vacation rental. The average was $116.46. Accommodations on Maui came in at $1,971.97, while a week in Martha’s Vineyard is $3,409.94 on the TripAdvisor index.

Markets with total costs higher than Maui’s were Martha’s Vineyard at No. 1, costing $3,661.13; La Jolla, Calif., at $2,497.44; and Miami Beach, Fla., at $2,465.12.

Diner en Blanc culinary event set for Oahu

Diner en Blanc will be staged for the first time in Honolulu on July 19 at a secret location.

In keeping with the tradition established in Paris, up to 600 diners will dress all in white for an evening of food and entertainment in which diners are asked to bring their own beverages, glassware, china, flatware, tables and chairs.

Diners will meet at various locations and be shuttled to a spot that will be revealed just before the event begins.

Those wishing to attend can "like" the event page on Facebook and register online. The event costs $40, which includes membership and transportation fees.

Diner en Blanc’s international organizers said Honolulu’s culture is a reflection of the event’s core values, and that the first event will highlight the beauty of the city.

$54M Kauai solar farm under construction

Work has started on a $54 million, 60-acre solar power facility that will provide electricity to as many as 4,000 homes on Kauai. The 57,624-panel project, by REC Solar and the Kauai Island Utility Cooperative, will generate 12 megawatts, supplying 20 percent of the Garden Island’s electricity during daylight hours or up to 5 percent of Kauai’s annual electricity needs.

Hawaiian Homes Commission board members voted in February to approve terms for the 25-year lease for the land under the project. The terms provide for ownership of the solar array to transfer to DHHL after 25 years.

Construction is expected to be completed next year.

ON THE MOVE

Kiewit Building Group has hired Alexander Camerino as a safety supervisor for Hawaii’s projects. He has five years in construction safety experience, including serving in management positions at TritonMarine Construction and Road Builders Corp. in Honolulu. 

                             

Derek Akiyoshi has been appointed regional chief executive officer for the Hawaii Health Systems Corp., Oahu Region. Akiyoshi previously served as the administrator at Maluhia and currently serves as vice chairman of the Healthcare Association of Hawaii Long Term Care Division.   

Xerox Hawaii has appointed Michelle Chung to account executive. Her responsibilities include providing existing and new commercial accounts with services and solutions to effectively manage their document work flow, which allows customers to focus on their core business.