CHICAGO, Feb. 8 /PRNewswire-FirstCall/ -- GATX Corporation (NYSE: GMT)
today announced that its Board of Directors has approved an increase in its
quarterly cash dividend to $.32 per common share, payable March 31, 2002, to
shareholders of record on March 8, 2002. On an annual basis, this represents
an increase in dividends from $1.24 to $1.28 per common share.
Ronald H. Zech, chairman, stated, "The Board action today reflects our
confidence in the future of the company. GATX Corporation has paid quarterly
dividends without interruption since 1919, and this marks our 17th consecutive
annual increase. The increase also reflects the stability and strength of our
cash flow, evidenced by the fact that in 2001, a year in which we faced
challenging conditions in our end markets, we generated in excess of
$1.0 billion in cash from operations and portfolio proceeds. This strong cash
flow enables us to pursue our investment plans while also offering our
shareholders an attractive dividend."
The Board also declared a quarterly dividend of $0.625 per share on the
$2.50 preferred stock, payable March 1, 2002, to shareholders of record on
February 15, 2002.
COMPANY DESCRIPTION
GATX Corporation (NYSE: GMT) is a specialized finance and leasing company.
It uniquely combines asset knowledge and services, structuring expertise,
creative partnering and risk capital to provide business solutions to
customers and partners worldwide. GATX specializes in railcar and locomotive
leasing, aircraft operating leasing, information technology leasing, venture
finance and specialty finance.
FORWARD LOOKING STATEMENTS
This press release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. These statements are identified by
words such as "anticipate," "believe," "estimate," "expects," "intend,"
"predict," or "project" and similar expressions. This information may involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Although the company believes that the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and uncertainties
that could cause actual results to differ materially from those projected.
With respect to outlook comments within this release, risks and uncertainties
include, but are not limited to, general economic conditions and/or the market
changes resulting from the events of September 11, 2001, railcar lease rate
and utilization levels, dynamics affecting customers within the chemical,
petroleum and food industries, additional potential write-downs and/or
provisions within GATX's portfolio, and general market conditions in the rail,
air, technology, venture, and other large-ticket leasing industries.
Investor, corporate information and press releases may be found at
http://www.gatx.com . A variety of current financial information, historical
financial information, press releases and photographs are available at this
site.
SOURCE GATX Corporation
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