Trinity Industries, Inc. Increases Quarterly Dividend by 13% and Announces New Share Repurchase Authorization

Rhea-AI Summary

Trinity Industries has increased its quarterly dividend to 26 cents per share, an approximate 13% rise from the previous 23 cents. This marks Trinity's 235th consecutive dividend payment and demonstrates an average annual increase of 19% since the Arcosa spin-off in 2018. The new cash dividend is payable on January 31, 2023.

Additionally, a new $250 million stock buyback program has been authorized, replacing the previous program.

Positive

• Quarterly dividend increased by 13% to 26 cents per share, reflecting strong shareholder returns.
• New $250 million share buyback program indicates confidence in sustaining returns.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Trinity Industries, Inc. (NYSE:TRN) (“Trinity” or the “Company”) today has declared an increase in its quarterly dividend to 26 cents per share on its $0.01 par value common stock. The new dividend reflects an increase of approximately 13% compared to the most recent quarterly dividend of 23 cents per share and reflects an average annual increase of 19% on Trinity’s quarterly dividend since the spin-off of Arcosa, Inc. in 2018. The quarterly cash dividend, representing Trinity’s 235th consecutively paid dividend, is payable January 31, 2023 to stockholders of record on January 13, 2023.

Additionally, the Company announced the retirement of its current share repurchase authorization and a new $250 million program authorized by its Board of Directors, effective December 9, 2022, with no expiration.

“Our consistency in paying a dividend combined with our motivation to continue to buy back shares reflects Trinity’s ongoing commitment to return capital to shareholders,” said Jean Savage, Trinity’s Chief Executive Officer and President. “We continue to evaluate the best use of capital and believe our financial performance gives us the ability to be disciplined in capital allocation to improve shareholder returns.”

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 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 reports its financial results in two principal business segments: the Railcar Leasing and Management Services Group and the Rail Products Group. For more information, visit: www.trin.net.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208005937/en/

Investor Contact:

Leigh Anne Mann

Vice President, Investor Relations

Trinity Industries, Inc.

(Investors) 214/631-4420

Media Contact:

Jack L. Todd

Vice President, Public Affairs

Trinity Industries, Inc.

(Media Line) 214/589-8909

Source: Trinity Industries, Inc.

FAQ

What is the new dividend amount declared by Trinity Industries (TRN)?

Trinity Industries has declared a new quarterly dividend of 26 cents per share.

When will the new dividend be payable for TRN shareholders?

The new dividend will be payable on January 31, 2023.

What is the amount of the new stock buyback program announced by TRN?

Trinity Industries has authorized a new stock buyback program of $250 million.

How does the new dividend compare to the previous one for TRN?

The new dividend of 26 cents per share is a 13% increase from the previous 23 cents.

How many consecutive dividends has Trinity Industries paid?

Trinity Industries has paid 235 consecutive dividends.