GATX Corporation Announces Quarterly Dividend Increase and $250 Million Aggregate Stock Repurchase Authorization
CHICAGO, Jan. 26, 2018 (GLOBE NEWSWIRE) --
The board of directors of GATX Corporation (NYSE:GATX) today declared a quarterly dividend of $0.44 per common share, payable March 31, 2018, to shareholders of record on March 5, 2018. GATX has paid quarterly dividends without interruption since 1919, and the dividend amount announced today represents a 5.0% increase from the prior year’s dividend. Further, the board has approved an additional share repurchase authorization of $170 million, bringing GATX’s aggregate repurchase authorization to $250 million.
Brian A. Kenney, president and chief executive officer of GATX stated, “2018 will mark our 100th consecutive year of paying a dividend, a track record that few companies can match. Over the past ten years, GATX has invested over $7.0 billion in our business and returned over $1.2 billion to our shareholders through dividends and share repurchase. We have done so while maintaining a strong balance sheet and steady investment grade credit rating. Both the dividend increase and share repurchase authorization reflect the board’s confidence in GATX’s long-term outlook and demonstrates the Company’s continued commitment to return capital to our shareholders.”
GATX Corporation (NYSE:GATX) strives to be recognized as the finest railcar leasing company in the world by its customers, its shareholders, its employees and the communities where it operates. As the leading global railcar lessor, GATX has been providing quality railcars and services to its customers for 120 years. GATX has been headquartered in Chicago, Illinois, since its founding in 1898. For more information, please visit the Company's website at www.gatx.com.
FORWARD LOOKING STATEMENTS
Statements in this Earnings Release not based on historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and, accordingly, involve known and unknown risks and uncertainties that are difficult to predict and could cause our actual results, performance, or achievements to differ materially from those discussed. These statements include statements as to our future expectations, beliefs, plans, strategies, objectives, events, conditions, financial performance, prospects, or future events. In some cases, forward-looking statements can be identified by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would”, and similar words and phrases. Forward-looking statements are necessarily based on estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date they are made, and are not guarantees of future performance. We do not undertake any obligation to publicly update or revise these forward-looking statements.
The following factors, in addition to those discussed in our other filings with the SEC, including our Form 10-K for the year ended December 31, 2016 and subsequent reports on Form 10-Q, could cause actual results to differ materially from our current expectations expressed in forward-looking statements:
FOR FURTHER INFORMATION CONTACT:
Director, Investor Relations
Investor, corporate, financial, historical financial, and news release information may be found at www.gatx.com.
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