Ex-Dividend Alert: GATX Raised its Dividend by 5%; Will Trade Ex-Dividend on March 02, 2018
LONDON, UK / ACCESSWIRE / March 1, 2018 / Active-Investors has a free review on GATX Corp. (NYSE: GATX) following the Company's announcement that it will begin trading ex-dividend on March 02, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on March 01, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on GATX:
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Dividend Declared
On January 26, 2018, GATX's Board of Directors declared a quarterly dividend of $0.44 per common share, payable March 31, 2018, to shareholders of record on March 05, 2018.
Brian A. Kenney, President and Chief Executive Officer of GATX, stated:
"2018 will mark our 100th consecutive year of paying a dividend, a track record that few companies can match. Over the past ten years, GATX has invested over $7.0 billion in our business and returned over $1.2 billion to our shareholders through dividends and share repurchase. We have done so while maintaining a strong balance sheet and steady investment grade credit rating."
GATX's indicated dividend represents a yield of 2.44%, which is substantially higher than the average dividend yield of 1.95% for the Services sector. GATX has paid quarterly dividends without interruption since 1919, and the dividend amount announced represents a 5.0% increase from the prior year's dividend.
Dividend Insight
GATX has a dividend payout ratio of 38.5%, which denotes that the Company spends approximately $0.39 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, GATX is forecasted to report earnings of $4.88 for the next year, which is more than double the Company's annualized dividend of $1.76 per share.
As of December 31, 2017, GATX's cash and cash equivalents totaled 296.5 million compared to $307.5 million as on December 31, 2016. The Company's net cash provided by operating activities totaled $496.8 million for the year ended December 31, 2017, compared to $629.4 million 1. in the prior year's same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
About GATX Corp.
GATX strives to be recognized as the finest railcar leasing Company in the world by its customers, its shareholders, its employees, and the communities where it operates. As the leading global railcar lessor, GATX has been providing quality railcars and services to its customers for 120 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898.
Stock Performance Snapshot
February 28, 2018 - At Wednesday's closing bell, GATX's stock fell 3.00%, ending the trading session at $68.94.
Volume traded for the day: 300.61 thousand shares.
Stock performance in the last three-month - up 16.41%; previous six-month period – up 14.08%; past twelve-month period – up 18.70%; and year-to-date – up 10.91%
After yesterday's close, GATX's market cap was at $2.62 billion.
Price to Earnings (P/E) ratio was at 14.45.
The stock has a dividend yield of 2.55%.
The stock is part of the Services sector, categorized under the Rental & Leasing Services industry.
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