Business Wire | Jan 28, 2022 12:29PM EST

GATX Corporation Announces Quarterly Dividend Increase

Jan. 28, 2022

CHICAGO--(BUSINESS WIRE)--Jan. 28, 2022--The board of directors of GATX Corporation (NYSE:GATX) today declared a quarterly dividend of $0.52 per common share, payable Mar. 31, 2022, to shareholders of record on Feb. 25, 2022. GATX has paid quarterly dividends without interruption since 1919, and the dividend amount announced today represents a 4.0% increase from the prior year's dividend.

"2022 marks our 104th consecutive year of paying a dividend, a track record that few companies can match," said Brian A. Kenney, president and chief executive officer of GATX. "Over the past decade, GATX has invested approximately $8.4 billion in our business and returned over $1.5 billion to our shareholders through dividends and share repurchase. We have done so while maintaining a strong balance sheet and solid investment grade credit ratings. This dividend increase reflects the board's favorable view of GATX's long-term outlook and demonstrates the Company's ongoing commitment to return capital to our shareholders."

COMPANY DESCRIPTION

GATX Corporation (NYSE:GATX) strives to be recognized as the finest railcar leasing company in the world by our customers, our shareholders, our employees and the communities where we operate. As the leading global railcar lessor, GATX has been providing quality railcars and services to its customers for over 120 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898.

AVAILABILITY OF INFORMATION ON GATX'S WEBSITE

Investors and others should note that GATX routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information that the Company posts to the GATX Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in GATX to review the information that it shares on www.gatx.com under the "Investor Relations" tab.

FORWARD-LOOKING STATEMENTS

Statements in this Earnings Release not based on historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and, accordingly, involve known and unknown risks and uncertainties that are difficult to predict and could cause our actual results, performance, or achievements to differ materially from those discussed. Forward-looking statements include statements as to our future expectations, beliefs, plans, strategies, objectives, events, conditions, financial performance, prospects, or future events. In some cases, forward-looking statements can be identified by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "outlook," "continue," "likely," "will," "would", and similar words and phrases. Forward-looking statements are necessarily based on estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date they are made, and are not guarantees of future performance. We do not undertake any obligation to publicly update or revise these forward-looking statements.

The outcome of the events described in forward-looking statements is subject to risks, uncertainties, and other factors, in addition discussed in our other filings with the SEC, including our Form 10-K for the year ended December 31, 2020 and subsequent reports on Form 10-Q. The following is a summary of the principal risks we face that could cause actual results to differ materially from our current expectations expressed in forward-looking statements:

* inability to successfully consummate and manage ongoing acquisition and divestiture activities

* reliance on Rolls-Royce in connection with our aircraft spare engine leasing * the duration and effects of the businesses, and the risks that global COVID-19 pandemic and any certain factors that adversely mandated pandemic mitigation affect Rolls-Royce could have requirements, including adverse an adverse effect on our impacts on our business, personnel, businesses operations, commercial activity, supply chain, the demand for our * fluctuations in foreign transportation assets, the value of exchange rates our assets, our liquidity, and macroeconomic conditions * inflation or deflation

* exposure to damages, fines, criminal * failure to successfully and civil penalties, and reputational negotiate collective bargaining harm arising from a negative outcome agreements with the unions in litigation, including claims representing a substantial arising from an accident involving portion of our employees transportation assets * asset impairment charges we may * inability to maintain our be required to recognize transportation assets on lease at satisfactory rates due to oversupply * deterioration of conditions in of assets in the market or other the capital markets, reductions changes in supply and demand in our credit ratings, or increases in our financing * a significant decline in customer costs demand for our transportation assets or services, including as a result * changes in banks' inter-lending of: rate reporting practices and the phasing out of LIBOR * weak macroeconomic conditions * competitive factors in our * weak market conditions in our primary markets, including customers' businesses competitors with significantly lower costs of capital * adverse changes in the price of, or demand for, commodities * risks related to our international operations and * changes in railroad operations, expansion into new geographic efficiency, pricing and service markets, including laws, offerings, including those related to regulations, tariffs, taxes, "precision scheduled railroading" treaties, sanctions, or trade barriers affecting our * changes in, or disruptions to, supply activities in the countries chains where we do business

* availability of pipelines, trucks, * changes in, or failure to and other alternative modes of comply with, laws, rules, and transportation regulations

* changes in conditions affecting the * U.S. and global political aviation industry, including reduced conditions demand for air travel, geographic exposure and customer concentrations * inability to obtain cost-effective insurance * other operational or commercial needs or decisions of our customers * environmental liabilities and remediation costs * customers' desire to buy, rather than lease, our transportation assets * potential obsolescence of our assets * higher costs associated with increased assignments of our * inadequate allowances to cover transportation assets following credit losses in our portfolio non-renewal of leases, customer defaults, and compliance maintenance * operational, functional and programs or other maintenance regulatory risks associated initiatives with severe weather events, climate change and natural * events having an adverse impact on disasters assets, customers, or regions where we have a concentrated investment * inability to maintain and exposure secure our information technology infrastructure from * financial and operational risks cybersecurity threats and associated with long-term purchase related disruption of our commitments for transportation assets business

* reduced opportunities to generate * changes in assumptions, asset remarketing income increases in funding requirements or investment losses in our pension and post-retirement plans

* inability to maintain effective internal control over financial reporting and disclosure controls and procedures

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CONTACT: Shari Hellerman Director, Investor Relations GATX Corporation 312-621-4285 shari.hellerman@gatx.com