GATX Corporation (NYSE:GATX) Files An 8-K Other Events
Item 8.01 Other Events.
On January 25, 2019, the Board of Directors (the “Board”) of GATX Corporation (the “Company”) declared a quarterly dividend of $0.46 per common share, payable March 31, 2019, to shareholders of record on March 4, 2019. GATX has paid quarterly dividends without interruption since 1919, and the dividend amount announced today represents a 4.5% increase from the prior year’s dividend.
In addition, the Board elected to terminate the Company’s existing share repurchase program and authorized a new share repurchase program under which the Company may repurchase, from time to time, up to a maximum of $300.0 million of the Company’s common shares. This share repurchase authorization does not establish a deadline for completing any repurchases, and it does not obligate the Company to repurchase any dollar amount or number of shares of common stock. Repurchases under this program may be made from time to time in the open market, through privately negotiated transactions, block transactions or otherwise, as determined by the Company. Future repurchases will depend on factors such as the then current market price of the Company’s common shares, market and business conditions, and other factors. The share repurchase program may be suspended, modified or discontinued at any time, but the authorization is of an open-ended term. A press release announcing the share repurchase program was issued and is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
GATX CORP Exhibit
EX-99.1 2 gatx-20190125exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1NEWS RELEASE FOR RELEASE: IMMEDIATEGATX CORPORATION ANNOUNCES QUARTERLY DIVIDEND INCREASE AND $300 MILLION STOCK REPURCHASE AUTHORIZATIONCHICAGO,…
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About GATX Corporation (NYSE:GATX)
GATX Corporation is a railcar lessor, owning fleets in North America, Europe and Asia. The Company operates through four segments: Rail North America, Rail International, American Steamship Company (ASC) and Portfolio Management. Rail North America provides railcars pursuant to full-service leases under which it maintains the railcars, pays ad valorem taxes and insurance, and provides other ancillary services. Rail International comprises the Company’s European operations, GATX Rail Europe (GRE), and a railcar leasing business in India (Rail India), as well as one development-stage affiliate in China. ASC operates a fleet of the United States-flagged vessels on the Great Lakes, providing waterborne transportation of dry bulk commodities, such as iron ore, coal, limestone aggregates and metallurgical limestone. Portfolio Management generates leasing, marine operating, asset remarketing and management fee income through a collection of diversified assets and joint venture investments.
