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.
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