GlobeNewswire
GATX Corporation announces quarterly dividend increase
CHICAGO, Feb. 6 / PRNewswire / – The board of directors of GATX Corporation (NYSE: GATX) today resolved to pay a quarterly dividend of $ 0.50 per common share payable to shareholders of record on February 26, 2021 on March 31, 2021, 2021. GATX has been paying quarterly dividends without interruption since 1919, and the dividend amount announced today represents a 4.2% increase over the previous year’s dividend. “2021 will be our 103rd straight dividend payment, a track record few companies can match,” said Brian A. Kenney, president and chief executive officer of GATX. “Over the past decade, GATX has invested approximately $ 8.0 billion in our business and returned over $ 1.5 billion to our shareholders through dividends and share buybacks. We continued to maintain a strong balance sheet and stable investment grade ratings throughout the pandemic. This dividend increase reflects the Board of Directors’ confidence in GATX’s long-term prospects and shows the company’s continued commitment to returning capital to our shareholders. COMPANY DESCRIPTION GATX Corporation (NYSE: GATX) strives to be recognized as the best railcar leasing company in the world by our customers, shareholders, employees and the communities in which we operate. As the world’s leading railcar rental company, GATX has been offering its customers high-quality railcars and services for over 122 years. GATX has been headquartered in Chicago, Illinois since its inception in 1898. AVAILABILITY OF INFORMATION ON THE GATX WEBSITE Investors and others should be aware that GATX routinely publishes material information to investors and the marketplace through SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information the company publishes on the GATX Investor Relations website is material, some information can be considered material. Accordingly, the company encourages investors, the media, and others interested in GATX to review the information it shares on www.gatx.com under the Investor Relations tab. FORWARD LOOKING STATEMENTS Statements in this earnings release that are 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 successes differ materially from those discussed. This includes statements about our future expectations, beliefs, plans, strategies, goals, events, conditions, financial performance, prospects, or future events. In some instances, forward-looking statements may be identified by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” ” Predictions, “Potential,” “Outlook,” “Next,” “Likely,” “Will,” “Dignity” and similar words and expressions. Forward-looking statements are necessarily based on estimates and assumptions that we and our management believe are reasonable but are inherently uncertain. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date of their publication and are not guarantees of future performance. We do not assume 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, 2019 and subsequent reports on Form 10-Q, could cause actual results to be material Our current expectations expressed in forward-looking statements differ from our current expectations: the length of the global COVID-19 pandemic, including the adverse effects on our business, people, operations, operations, supply chain, demand for our goods in transit, the value of our assets, and our liquidity risk for damages, fines, criminal and civil law sanctions and reputational damage resulting from a negative outcome in legal disputes, including claims for damages due to an accident in which our transport assets are unable to expand our transport assets Owing to an oversupply of assets in the market or leasing them at satisfactory rates. Other changes in supply and demand lead to a significant decrease in customer demand for our goods or services, also as a result of: weak macroeconomic conditions weak market conditions in our customers’ businesses adverse Changes in the price or demand for raw material changes in rail operations, efficiency, pricing and service offerings, including those related to changes in the supply chain availability of pipelines under Precision Scheduled Railroading, trucks and other alternative means of transport change the terms of the aviation industry, including a lower demand for air travel, geographical exposure and customer concentrations, other operational or commercial needs or decisions made by customers, our transp Buying local goods higher than leasing costs associated with increased allocation of our goods in transit following non-renewal of leases, customer outages and compliance maintenance programs or other maintenance initiatives that adversely affect assets, customers or regions where we have a concentrated financial and operational investment risk The risks associated with long-term purchase commitments for cargo reduced the ability to generate a remarketing incompatibility to successfully complete and manage ongoing acquisitions and divestitures as a function of Rolls-Royce in connection with our aircraft replacement engine leasing business, as well as the Risks Adversely Affecting Certain Factors Impact Rolls-Royce could adversely affect corporate foreign exchange fluctuations if collective agreements are unsuccessful with the wage unions that make up a significant portion of our workforce, incurring impairment charges that may be necessary to detect deterioration in capital markets conditions, and a decrease in our credit ratings or increase in our financing cost changes when reporting interest rates between banks and the phasing out of LIBOR competitive factors in our primary markets, including competitors with significantly lower costs of capital risk associated with our international operations and expansion into new geographic markets, including laws, regulations, tariffs, taxes, contracts or trade barriers that affect our operations in countries where we make business changes to laws, rules and regulations or fail to comply with them to generate costs. Effective environmental insurance liabilities and redevelopment cost potential obsolescence of our assets Insufficient value adjustments to cover credit losses in our portfolio. Operational, functional and regulatory risks related to severe weather events, climate change and natural disasters to protect our information technology infrastructure from cybersecurity threats and related disruptions to our business FOR MORE INFORMATION CONTACT: GATX CorporationShari HellermanDirector, Investor Relations312-621-4285shari.hellerman@gatx. com
