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Trinity Industries, Inc. Announces New Share Repurchase Authorization and Declares Quarterly Dividend
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
buybackdividends
Rhea-AI Summary
Trinity Industries, Inc. (NYSE:TRN) has completed its previous $250 million share repurchase program and announced a new $250 million program effective September 9, 2021, expiring December 31, 2022. CEO Jean Savage stated this reflects the company’s commitment to returning capital to shareholders, supported by its financial strength. Additionally, Trinity declared a quarterly dividend of 21 cents per share, marking its 230th consecutive dividend, payable October 29, 2021.
Positive
Completion of $250 million share repurchase program enhances shareholder value.
Announcement of a new $250 million share repurchase program demonstrates strong financial position.
Declaration of a 21 cents quarterly dividend reflects ongoing commitment to returning capital.
Negative
None.
DALLAS--(BUSINESS WIRE)--
Trinity Industries, Inc. (NYSE:TRN) (“Trinity” or the “Company”) today announced that it has completed the $250 million share repurchase program authorized by its Board of Directors (the “Board”) in October 2020. As a result, Trinity’s Board has approved a new $250 million share repurchase program, effective September 9, 2021, that expires on December 31, 2022.
“We are pleased to have completed the Company’s existing $250 million repurchase program, as well as announce the new $250 million repurchase authorization,” said Jean Savage, Trinity’s Chief Executive Officer and President. “The share repurchase program reflects our commitment to returning capital to shareholders. This new authorization is supported by our financial strength and the confidence we have in our platform of products and services for rail transportation. Today’s announcement reflects our disciplined capital allocation process to improve shareholder returns.”
Trinity also declared a quarterly dividend of 21 cents per share on its $0.01 par value common stock. The quarterly cash dividend, representing Trinity’s 230th consecutively paid dividend, is payable October 29, 2021, to stockholders of record on October 15, 2021.
About Trinity Industries Trinity Industries, Inc., headquartered in Dallas, Texas, owns businesses that are leading providers of rail transportation products and services in North America. Our rail-related businesses market their railcar products and services under the trade name TrinityRail®. The TrinityRail platform provides railcar leasing and management services, as well as railcar manufacturing, maintenance and modifications. Trinity also owns businesses engaged in the manufacture of products used on the nation’s roadways and in traffic control. Trinity reports its financial results in three principal business segments: the Railcar Leasing and Management Services Group, the Rail Products Group, and the All Other Group. For more information, visit: www.trin.net.
