By Ben Glickman
GATX increased its quarterly dividend on Friday, which the company said reflected its positive long-term outlook and strong cash flows.
The Chicago-based maker of railcars declared a quarterly dividend of 58 cents a share, up from a prior payout of 55 cents.
The new dividend, equal to $2.32 a year, represents an annual yield of 1.8% based on the Thursday closing price of $126.46.
Chief Executive Robert Lyons said 2024 was the company’s 106th consecutive year paying a dividend.
He added that the dividend raise reflected the board of directors’ “positive view of GATX’s long-term outlook, the strength and quality of our cash flows and the Company’s ongoing commitment to shareholders.”
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