{"id":726588,"date":"2023-01-27T12:31:02","date_gmt":"2023-01-27T17:31:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gatx-corporation-announces-quarterly-dividend-increase-3\/"},"modified":"2023-01-27T12:31:02","modified_gmt":"2023-01-27T17:31:02","slug":"gatx-corporation-announces-quarterly-dividend-increase-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gatx-corporation-announces-quarterly-dividend-increase-3\/","title":{"rendered":"GATX Corporation Announces Quarterly Dividend Increase"},"content":{"rendered":"

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GATX Corporation Announces Quarterly Dividend Increase<\/span><\/b><\/p>\n

CHICAGO–(BUSINESS WIRE<\/a>)–
\nThe board of directors of GATX Corporation (NYSE:GATX) today declared a quarterly dividend of $0.55 per common share, payable Mar. 31, 2023, to shareholders of record on Mar. 3, 2023. GATX has paid quarterly dividends without interruption since 1919, and the dividend amount announced today represents a 5.8% increase from the prior year\u2019s dividend.\n<\/p>\n

\n\u201c2023 marks our 105th<\/sup> consecutive year of paying a dividend, a track record few companies can match,\u201d said Robert C. Lyons, president and chief executive officer of GATX. \u201cIn the past decade alone, GATX has invested nearly $9.0 billion in our business while also returning over $1.5 billion to shareholders through dividends and share repurchases. We have done so while growing earnings, strengthening our balance sheet and maintaining solid investment grade credit ratings. This dividend increase is reflective of the board\u2019s positive view of GATX\u2019s long-term outlook and demonstrates the Company\u2019s ongoing commitment to our shareholders.\u201d\n<\/p>\n

COMPANY DESCRIPTION<\/span><\/b><\/p>\n

\nAt GATX Corporation (NYSE:GATX), we empower our customers to propel the world forward. GATX leases transportation assets including railcars, aircraft spare engines and tank containers to customers worldwide. Our mission is to provide innovative, unparalleled service that enables our customers to transport what matters safely and sustainably while championing the well-being of our employees and communities. Headquartered in Chicago, Illinois since its founding in 1898, GATX has paid a quarterly dividend, uninterrupted, since 1919.\n<\/p>\n

AVAILABILITY OF INFORMATION ON GATX’S WEBSITE<\/span><\/b><\/p>\n

\nInvestors and others should note that GATX routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information that the Company posts to the GATX Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in GATX to review the information that it shares on www.gatx.com<\/a> under the \u201cInvestor Relations\u201d tab.\n<\/p>\n

FORWARD-LOOKING STATEMENTS<\/span><\/b><\/p>\n

\nStatements in this Earnings Release not based on historical facts are \u201cforward-looking statements\u201d 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 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 \u201cmay,\u201d \u201ccould,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cseek,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201coutlook,\u201d \u201ccontinue,\u201d \u201clikely,\u201d \u201cwill,\u201d \u201cwould\u201d, 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.\n<\/p>\n

\nThe 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, 2021 and in any subsequent reports on Form 10-Q, could cause actual results to differ materially from our current expectations expressed in forward-looking statements:\n<\/p>\n\n\n
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  • \nthe impact of the ongoing military action between Russia and Ukraine, including sanctions and countermeasures, on domestic and global economic and geopolitical conditions in general and on our ability to consummate the sale of our railcar leasing business in Russia\n<\/li>\n
  • \nthe duration and effects of the global COVID-19 pandemic and measures taken in response, including adverse impacts on our operations, commercial activity, supply chain, the demand for our transportation assets, the value of our assets, our liquidity, and macroeconomic conditions\n<\/li>\n
  • \nexposure to damages, fines, criminal and civil penalties, and reputational harm arising from a negative outcome in litigation, including claims arising from an accident involving transportation assets\n<\/li>\n
  • \ninability to maintain our transportation assets on lease at satisfactory rates due to oversupply of assets in the market or other changes in supply and demand\n<\/li>\n
  • \na significant decline in customer demand for our transportation assets or services, including as a result of:<\/p>\n
      \n
    • \nweak macroeconomic conditions or increased interest rates\n<\/li>\n
    • \nweak market conditions in our customers\u2019 businesses\n<\/li>\n
    • \nadverse changes in the price of, or demand for, commodities\n<\/li>\n
    • \nchanges in railroad operations, efficiency, pricing and service offerings, including those related to “precision scheduled railroading” or labor strikes or shortages\n<\/li>\n
    • \nchanges in, or disruptions to, supply chains\n<\/li>\n
    • \navailability of pipelines, trucks, and other alternative modes of transportation\n<\/li>\n
    • \nchanges in conditions affecting the aviation industry, including reduced demand for air travel, geographic exposure and customer concentrations\n<\/li>\n
    • \nother operational or commercial needs or decisions of our customers\n<\/li>\n
    • \ncustomers\u2019 desire to buy, rather than lease, our transportation assets\n<\/li>\n<\/ul>\n<\/li>\n
    • \nhigher costs associated with increased assignments of our transportation assets following non-renewal of leases, customer defaults, and compliance maintenance programs or other maintenance initiatives\n<\/li>\n
    • \nevents having an adverse impact on assets, customers, or regions where we have a concentrated investment exposure\n<\/li>\n<\/ul>\n

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