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Dividend investing is a popular strategy in which an investor puts money in a regular dividend-paying stock. Keeping in mind the dividend distribution history of GATX (GATX - Free Report) for the past 105 years, it certainly makes its way to the portfolio of any dividend investor. GATX distributed $74.3 million as dividends during 2021 and bought back shares worth $13.1 million in 2021.
In the latest shareholder-friendly move, GATX has announced a 5.8% increase in the quarterly dividend amounting to 55 cents from the previous 52 cents. The new dividend is payable on Mar 31 to its shareholders of record on Mar 3.
The current increase of 5.8% follows a similar move in January 2022 when GATX had raised its quarterly dividend by 4% to 52 cents per share.
A high dividend-yielding stock is highly coveted by investors. Needless to say, they are always on the lookout for companies with a consistent and incremental dividend history. Therefore, GATX’s decision to increase dividends certainly seems prudent.
The shareholder-friendly announcement apart, the company was also in the news when it released its fourth quarter 2022 results. In the December quarter, GATX’s earnings of $1.54 per share surpassed the Zacks Consensus Estimate of $1.38. The bottom line fell 2.5% year over year. Revenues of $322.7 million missed the Zacks Consensus Estimate of $328.9 million but improved 0.5% year over year.
American Airlines’ fourth-quarter 2022 earnings (excluding 3 cents from non-recurring items) of $1.17 per share surpassed the Zacks Consensus Estimate of $1.14 per share despite higher costs. The fourth quarter of 2022 was the third consecutive profitable quarter, excluding net special items, for AAL since the onset of the pandemic. The company expects its 2023 capacity to improve 5-8% year over year.
With air-travel demand having improved, American Airlines is constantly looking to add routes and broaden its network. As part of the expansion drive, the carrier began service to Chetumal, Mexico and San Andres Island, Colombia from Miami International Airport in December 2021. The airline’s codeshare agreement with Indian low-cost airline, IndiGo, is an added positive, as it launches new flights connecting the United States and India.
United Airlines reported better-than-expected fourth-quarter 2022 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. Quarterly earnings of $2.46 per share beat the Zacks Consensus Estimate of $2.07. Operating revenues of $12,400 million beat the Zacks Consensus Estimate of $12,230 million. It is safe to say UAL’s revenues increased 51.37% year over year owing to upbeat air-travel demand. In 2022, cargo revenues increased 84.1% from the 2019 level.
Delta Air Lines’ fourth-quarter 2022 earnings of $1.48 per share beat the Zacks Consensus Estimate of $1.29 per share. Delta reported revenues of $13,435 million, which also surpassed the Zacks Consensus Estimate of $13,030.3 million.
Delta’s liquidity position is encouraging. The airline ended the fourth quarter of 2022 with cash and cash equivalents of $6,534 million, much higher than the current debt of $2,031 million. DAL expects first-quarter 2023 earnings per share in the 15 cents - 40 cents band.
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GATX Cheers Investors, Announces 5.8% Dividend Increase
Dividend investing is a popular strategy in which an investor puts money in a regular dividend-paying stock. Keeping in mind the dividend distribution history of GATX (GATX - Free Report) for the past 105 years, it certainly makes its way to the portfolio of any dividend investor. GATX distributed $74.3 million as dividends during 2021 and bought back shares worth $13.1 million in 2021.
In the latest shareholder-friendly move, GATX has announced a 5.8% increase in the quarterly dividend amounting to 55 cents from the previous 52 cents. The new dividend is payable on Mar 31 to its shareholders of record on Mar 3.
The current increase of 5.8% follows a similar move in January 2022 when GATX had raised its quarterly dividend by 4% to 52 cents per share.
GATX Corporation Dividend Yield (TTM)
GATX Corporation dividend-yield-ttm | GATX Corporation Quote
A high dividend-yielding stock is highly coveted by investors. Needless to say, they are always on the lookout for companies with a consistent and incremental dividend history. Therefore, GATX’s decision to increase dividends certainly seems prudent.
The shareholder-friendly announcement apart, the company was also in the news when it released its fourth quarter 2022 results. In the December quarter, GATX’s earnings of $1.54 per share surpassed the Zacks Consensus Estimate of $1.38. The bottom line fell 2.5% year over year. Revenues of $322.7 million missed the Zacks Consensus Estimate of $328.9 million but improved 0.5% year over year.
Zacks Rank & Stocks to Consider
GATX carries Zacks Rank #3 (Hold) presently. Some better-ranked stocks in the Zacks Transportation sector are American Airlines (AAL - Free Report) , United Airlines (UAL - Free Report) and Delta Air Lines (DAL - Free Report) . All three stocks carry a Zacks Rank #2(Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Airlines’ fourth-quarter 2022 earnings (excluding 3 cents from non-recurring items) of $1.17 per share surpassed the Zacks Consensus Estimate of $1.14 per share despite higher costs. The fourth quarter of 2022 was the third consecutive profitable quarter, excluding net special items, for AAL since the onset of the pandemic. The company expects its 2023 capacity to improve 5-8% year over year.
With air-travel demand having improved, American Airlines is constantly looking to add routes and broaden its network. As part of the expansion drive, the carrier began service to Chetumal, Mexico and San Andres Island, Colombia from Miami International Airport in December 2021. The airline’s codeshare agreement with Indian low-cost airline, IndiGo, is an added positive, as it launches new flights connecting the United States and India.
United Airlines reported better-than-expected fourth-quarter 2022 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. Quarterly earnings of $2.46 per share beat the Zacks Consensus Estimate of $2.07. Operating revenues of $12,400 million beat the Zacks Consensus Estimate of $12,230 million. It is safe to say UAL’s revenues increased 51.37% year over year owing to upbeat air-travel demand. In 2022, cargo revenues increased 84.1% from the 2019 level.
Delta Air Lines’ fourth-quarter 2022 earnings of $1.48 per share beat the Zacks Consensus Estimate of $1.29 per share. Delta reported revenues of $13,435 million, which also surpassed the Zacks Consensus Estimate of $13,030.3 million.
Delta’s liquidity position is encouraging. The airline ended the fourth quarter of 2022 with cash and cash equivalents of $6,534 million, much higher than the current debt of $2,031 million. DAL expects first-quarter 2023 earnings per share in the 15 cents - 40 cents band.