Trinity (TRN) Rewards Shareholders With 8% Dividend Hike
In a shareholder-friendly move, Trinity Industries, Inc. (TRN) announced a hike in its dividend payout. TRN’s board of directors has announced a dividend hike of almost 8%, thereby raising its quarterly cash dividend from 26 cents per share to 28 cents. The raised dividend, reflecting Trinity’s 239th consecutively paid dividend, will be paid out on Jan 31, 2024, to all its shareholders of record as of Jan 12, 2024. The move reflects TRN’s intention to utilize free cash to enhance its shareholders’ returns.
Trinity Industries, Inc. Dividend Yield (TTM)
Trinity Industries, Inc. dividend-yield-ttm | Trinity Industries, Inc. Quote
Trinity has been consistently making efforts to reward its shareholders through dividends and share buybacks, which are encouraging. During the first nine months of 2023, TRN rewarded its shareholders with $64.7 million in dividend payments (did not repurchase any shares during the said time frame). The company also rewarded its shareholders through $76.9 million in dividends and $51.8 million in share repurchases during 2022.
Dividend-paying stocks provide a solid income stream and have fewer chances of experiencing wild price swings. Dividend stocks, like TRN, are safe bets for creating wealth, as the payouts generally act as a hedge against economic uncertainty like the current scenario.
TRN management’s decision to increase its quarterly dividend payout reflects the company’s commitment to boosting shareholder value apart from underlining confidence in its business. We believe such shareholder-friendly initiatives boost investor confidence and positively impact this Zacks Rank #3 (Hold) stock bottom line. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Trinity is not the only player from the Zacks Transportation sector that has rewarded its shareholders with dividend payouts or share buyback programs. To name a few, on Dec 5, Landstar System, Inc.’s LSTR board of directors raised the number of shares of its common stock, which the company is authorized to purchase, to 3,000,000. The latest uptick allows the company to purchase 319,332 new shares, apart from the existing authorization to purchase 2,680,668 shares.
Additionally, LSTR’s board has declared a special one-time cash dividend of $2.00 per share. This special dividend will be paid on Jan 19, 2024, to all its shareholders of record as of the close of the business on Jan 3, 2024.
On Nov 3, 2023, Air Lease Corporation’s AL board of directors increased its quarterly cash dividend by 5%, from 20 cents per share to 21 cents. The raised quarterly dividend of 21 cents per share will be paid on Jan 10, 2024, to shareholders of record as of Dec 15, 2023.
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Air Lease Corporation (AL) : Free Stock Analysis Report
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