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Triton International Limited (symbol: TRTN) is a leading global leasing company specializing in marine intermodal cargo containers. Established in 1980, Triton has become the largest owner-lessor of these containers worldwide. The company prides itself on its superior quality fleet, which includes dry van, refrigerated, flat rack, and open top equipment. Triton's fleet is recognized for being one of the youngest and most uniform in the industry.
Through its extensive network of regional service subsidiaries, agents, and depots, Triton offers unparalleled customer service. The company is committed to meeting the diverse needs of its clients by providing equipment in high-demand locations with flexible and competitive lease terms. Triton's experienced staff ensures the consistent availability and maintenance of its fleet, making it a reliable partner for businesses worldwide.
In addition to its core leasing operations, Triton is actively engaged in various projects aimed at expanding its market presence and enhancing service quality. The company's strategic partnerships and innovative solutions contribute to its robust financial condition and sustained growth. Triton's dedication to quality and customer satisfaction has earned it a selective lessee portfolio, further cementing its status as an industry leader.
For the latest updates and news about Triton International Limited, stay tuned to this page.
Triton International has announced two key dividend updates. First, the Board declared an initial dividend of $0.20651 per share on its 7.625% Series F Cumulative Redeemable Perpetual Preference Shares. This dividend covers the period from February 6, 2025, to March 15, 2025, and will be paid to shareholders of record as of March 10, 2025.
Additionally, the company has revised the previously announced record and payment dates for March 2025 quarterly dividends on Series A-E Preference Shares. While the dividend amounts remain unchanged, payments will now be made on March 15, 2025 (next business day) to shareholders of record as of March 10, 2025, instead of the previously announced March 14 payment date and March 7 record date.
Triton International has announced the pricing of an underwritten public offering of 6,000,000 Series F Cumulative Redeemable Perpetual Preference Shares at a liquidation preference of $25.00 per share, raising gross proceeds of $150 million. The Series F Preference Shares will carry a 7.625% dividend rate.
The company plans to use the net proceeds for general corporate purposes, including container purchases, dividend payments, and debt repayment. The offering is expected to close on February 6, 2025. Triton intends to list these shares on the NYSE under the symbol 'TRTN PRF' within 30 days of issuance.
Morgan Stanley, BofA Securities, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities are serving as joint book-running managers, with Brookfield Securities, Citizens JMP Securities, and Fifth Third Securities acting as co-managers.
Triton International announced key executive changes as part of its succession planning. John O'Callaghan, Executive VP and Global Head of Field Marketing and Operations, will retire from his current role on December 31, 2024, but will continue as Executive VP Director through 2026 and join the Board of Directors in 2025. Filip De Bruin, currently Senior VP of Marketing for Europe, Africa, and Middle East, will become Senior VP of Global Marketing and Field Operations on January 1, 2025, reporting to CEO Brian Sondey. De Bruin, a 30-year company veteran, will maintain his current customer relationships while expanding his oversight to global operations.
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