UPDATE: GATX Corp. (GMT) Lifts Qtr. Dividend to 40c/Share; Boosts Buyback by $300M

GATX Corp. (NYSE: GMT) declared a quarterly dividend of $0.40 per share, or $1.6 annualized. The dividend is a 5.3 percent increase from the current rate of $0.38.

The dividend will be payable on March 31, 2016, to stockholders of record on February 26, 2016, with an ex-dividend date of February 24, 2016.

The annual yield on the dividend is 4 percent.

Additionally, the board has approved a $300 million share repurchase authorization.

Brian A. Kenney, president and chief executive officer of GATX Corporation said, “In the last ten years, we have invested more than $7.0 billion in our business and returned over $1.3 billion to our shareholders through dividends and share repurchase, all while maintaining a strong financial position. We have also used the strong rail market of the last few years to extend lease terms at attractive rates, thus securing a record amount of committed future revenue. This dividend increase and share repurchase authorization reflect the board’s positive long-term outlook for the Company and demonstrates GATX’s commitment to continue returning capital to our shareholders.”

For a dividend history and other dividend-related data on GATX Corp. (GMT) click here.

You May Also Be Interested In

• MDU Resources Group (MDU) Raises Quarterly Dividend 3.6% to $0.145; 2.9% Yield
• Farmers & Merchants Bancorp (FMCB) Raises Quarterly Dividend 4.7% to $5.60; 1.6% Yield
• Renasant Corp. (RNST) Declares $0.24 Quarterly Dividend; 2.2% Yield