GATX Corporation Announces Quarterly Dividend Increase

CHICAGO, Jan. 29, 2021 (GLOBE NEWSWIRE) -- The board of directors of GATX Corporation (NYSE:GATX) today declared a quarterly dividend of $0.50 per common share, payable March 31, 2021, to shareholders of record on Feb. 26, 2021. GATX has paid quarterly dividends without interruption since 1919, and the dividend amount announced today represents a 4.2% increase from the prior year’s dividend.

“2021 marks our 103^r^d consecutive year of paying a dividend, a track record that 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 repurchase. Throughout the pandemic, we have continued to maintain a strong balance sheet and stable investment grade credit ratings. This dividend increase is reflective of the board’s confidence in GATX’s long-term outlook and demonstrates the Company’s ongoing commitment to return capital to our shareholders.”

COMPANY DESCRIPTION
GATX Corporation (NYSE:GATX) strives to be recognized as the finest railcar leasing company in the world by our customers, our shareholders, our employees and the communities where we operate. As the leading global railcar lessor, GATX has been providing quality railcars and services to its customers for over 122 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898.

AVAILABILITY OF INFORMATION ON GATX'S WEBSITE
Investors 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 under the “Investor Relations” tab.

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 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,” “outlook,” “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, 2019 and subsequent reports on Form 10-Q, could cause actual results to differ materially from our current expectations expressed in forward-looking statements:

the duration of the global COVID-19 pandemic, including adverse impacts on our business, personnel, operations, commercial activity, supply chain, the demand for our transportation assets, the value of our assets and our liquidity
exposure to damages, fines, criminal and civil penalties, and reputational harm arising from a negative outcome in litigation, including claims arising from an accident involving our transportation assets
inability 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
a significant decline in customer demand for our transportation assets or services, including as a result of:
- weak macroeconomic conditions
- weak market conditions in our customers' businesses
- adverse changes in the price of, or demand for, commodities
- changes in railroad operations, efficiency, pricing and service offerings, including those related to "precision scheduled railroading"
- changes in supply chains
- availability of pipelines, trucks, and other alternative modes of transportation
- changes in conditions affecting the aviation industry, including reduced demand for air travel, geographic exposure and customer concentrations
- other operational or commercial needs or decisions of our customers
- customers’ desire to buy, rather than lease, our transportation assets
higher costs associated with increased assignments of our transportation assets following non-renewal of leases, customer defaults, and compliance maintenance programs or other maintenance initiatives

events having an adverse impact on assets, customers, or regions where we have a concentrated investment exposure
financial and operational risks associated with long-term purchase commitments for transportation assets
reduced opportunities to generate asset remarketing income
inability to successfully consummate and manage ongoing acquisition and divestiture activities
reliance on Rolls-Royce in connection with our aircraft spare engine leasing businesses, and the risks that certain factors that adversely affect Rolls-Royce could have an adverse effect on those businesses
fluctuations in foreign exchange rates
failure to successfully negotiate collective bargaining agreements with the unions representing a substantial portion of our employees
asset impairment charges we may be required to recognize
deterioration of conditions in the capital markets, reductions in our credit ratings, or increases in our financing costs
changes in banks' inter-lending rate reporting practices and the phasing out of LIBOR
competitive factors in our primary markets, including competitors with significantly lower costs of capital
risks related to our international operations and expansion into new geographic markets, including laws, regulations, tariffs, taxes, treaties or trade barriers affecting our activities in the countries where we do business
changes in, or failure to comply with, laws, rules and regulations
inability to obtain cost-effective insurance
environmental liabilities and remediation costs
potential obsolescence of our assets
inadequate allowances to cover credit losses in our portfolio
operational, functional and regulatory risks associated with severe weather events, climate change and natural disasters
inability to maintain and secure our information technology infrastructure from cybersecurity threats and related disruption of our business

FOR FURTHER INFORMATION CONTACT:
GATX Corporation
Shari Hellerman
Director, Investor Relations
312-621-4285
shari.hellerman@gatx.com

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GATX Corporation Announces Quarterly Dividend Increase

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