GATX Corporation (GATX) will raise its quarterly dividend by 4.5 percent to $0.46 per share in the first quarter of 2019. This marks the company's 9th consecutive year of annual dividend increases and follows a similar 2 cent hike to 44 cents last year.

The next dividend is payable March 31, 2019, to shareholders of record on March 4, 2019 and the new annualized rate of $1.84 per share yields 2.5% at a stock price of $74.24.

Brian A. Kenney, president and chief executive officer of GATX stated, “In 2019, we will start our second century of paying an uninterrupted dividend, a track record that few companies can match. Over the past ten years, GATX has invested over $7.2 billion in our business and returned over $1.3 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.  Both the dividend increase and share repurchase authorization reflect the board’s confidence in GATX’s long-term outlook and demonstrates the Company’s continued commitment to return capital to our shareholders.”

GATX Corporation is a railcar leasing company with fleets in North America, Europe and Asia. In addition GATX operates a fleet of US-flagged vessels on the Great Lakes and owns and manages other assets. The company operates through four business segments: Rail North America, Rail International, Portfolio Management, and American Steamship Company (“ASC”). GATX, headquartered in Chicago, Illinois, since its founding in 1898, has paid quarterly dividends without interruption since 1919.