The board of directors of GATX Corporation (NYSE:GATX) today declared a quarterly dividend of $0.58 per common share, payable Mar. 31, 2024, to shareholders of record on Mar. 3, 2024. GATX has paid quarterly dividends without interruption since 1919, and the dividend amount announced today represents a 5.5% increase from the prior year's dividend.

"2024 marks our 106^th consecutive year of paying a dividend, a track record few companies can match," said Robert C. Lyons, president and chief executive officer of GATX. "In the past decade alone, GATX has invested $9.7 billion in our business while also returning over $1.5 billion to shareholders through dividends and share repurchases. This dividend increase reflects the board's positive view of GATX's long-term outlook, the strength and quality of our cash flows, and the Company's ongoing commitment to shareholders."

COMPANY DESCRIPTION

At GATX Corporation (NYSE:GATX), we empower our customers to propel the world forward. GATX leases transportation assets including railcars, aircraft spare engines and tank containers to customers worldwide. Our mission is to provide innovative, unparalleled service that enables our customers to transport what matters safely and sustainably while championing the well-being of our employees and communities. Headquartered in Chicago, Illinois since its founding in 1898, GATX has paid a quarterly dividend, uninterrupted, since 1919.

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 "Investors" 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. These 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 following factors, in addition to those discussed in our other filings with the SEC, including our Form 10-K for the year ended December 31, 2022, could cause actual results to differ materially from our current expectations expressed in forward-looking statements:

a significant decline in customer demand for our transportation assets or services, including as a result of:
- prolonged inflation and high interest rates
- weak macroeconomic conditions and world trade policies
- weak market conditions in our customers' businesses
- adverse changes in the price of, or demand for, commodities
- changes in railroad operations, efficiency, pricing and service offerings, including those related to "precision scheduled railroading" or labor strikes or shortages
- changes in, or disruptions to, supply chains
- availability of pipelines, trucks, and other alternative modes of transportation
- changes in conditions affecting the aviation industry, including global conflicts, geographic exposure and customer concentrations
- customers' desire to buy, rather than lease, our transportation assets
- other operational or commercial needs or decisions of our customers

inability to maintain our transportation assets on lease at satisfactory rates due to oversupply of assets in the market or other changes in supply and demand
competitive factors in our primary markets, including competitors with significantly lower costs of capital
higher costs associated with increased assignments of our transportation assets following non-renewal of leases, customer defaults, and compliance maintenance programs or other maintenance initiatives
events having an adverse impact on assets, customers, or regions where we have a concentrated investment exposure
financial and operational risks associated with long-term purchase commitments for transportation assets
reduced opportunities to generate asset remarketing income
inability to successfully consummate and manage ongoing acquisition and divestiture activities
reliance on Rolls-Royce in connection with our aircraft spare engine leasing businesses, and the risks that certain factors that adversely affect Rolls-Royce could have an adverse effect on our businesses
potential obsolescence of our assets

risks related to our international operations and expansion into new geographic markets, including laws, regulations, tariffs, taxes, treaties or trade barriers affecting our activities in the countries where we do business
failure to successfully negotiate collective bargaining agreements with the unions representing a substantial portion of our employees
inability to attract, retain, and motivate qualified personnel, including key management personnel
inability to maintain and secure our information technology infrastructure from cybersecurity threats and related disruption of our business
exposure to damages, fines, criminal and civil penalties, and reputational harm arising from a negative outcome in litigation, including claims arising from an accident involving transportation assets
changes in, or failure to comply with, laws, rules, and regulations
environmental liabilities and remediation costs
operational, functional and regulatory risks associated with climate change, severe weather events and natural disasters, and other environmental, social and governance matters
U.S. and global political conditions and the impact of increased geopolitical tension and wars, including the ongoing war between Russia and Ukraine and resulting sanctions and countermeasures, on domestic and global economic conditions in general, including supply chain challenges and disruptions
prolonged inflation or deflation
fluctuations in foreign exchange rates
deterioration of conditions in the capital markets, reductions in our credit ratings, or increases in our financing costs
the emergence of new variants of COVID-19 or the occurrence of another widespread health crisis and the impact of measures taken in response
inability to obtain cost-effective insurance
changes in assumptions, increases in funding requirements or investment losses in our pension and post-retirement plans
inadequate allowances to cover credit losses in our portfolio
asset impairment charges we may be required to recognize
inability to maintain effective internal control over financial reporting and disclosure controls and procedures

View source version on businesswire.com: https://www.businesswire.com/news/home/20240126921324/en/