Trinity Industries, Inc. Announces New Share Repurchase Authorization and Declares Quarterly Dividend
DALLAS – (BUSINESS WIRE) – Trinity Industries, Inc. (NYSE: TRN) (“Trinity” or the “Company”) announced today that it has completed the US $ 250 million share buyback program approved by its board of directors (the “Board of Directors”) in October 2020 As a result, Trinity’s board of directors has approved a new $ 250 million share buyback program effective September 9, 2021, which expires on December 31, 2022.
“We are pleased to have completed the company’s existing $ 250 million buyback program and to announce new approval to buy back $ 250 million,” said Jean Savage, chief executive officer and president of Trinity. “The share buyback program reflects our commitment to return capital to shareholders. This new approval is supported by our financial strength and the trust that we place in our product and service platform for rail transport. Today’s announcement reflects our disciplined capital allocation process to improve shareholder returns. ”
Trinity also announced a quarterly dividend of 21 cents per share on its common stock, which has a par value of $ 0.01. The quarterly cash dividend, which is Trinity’s 230th consecutive dividend, is payable on October 29, 2021 to shareholders of record on October 15, 2021.
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns companies that are leading providers of rail transportation products and services in North America. Our rail-related businesses market their wagon products and services under the TrinityRail® trade name. The TrinityRail platform provides leasing and administration services for railcars, as well as the manufacture, maintenance and modification of railcars. Trinity also owns companies that manufacture products that are used on the country’s roads and in traffic control. Trinity reports its financial results in three main business segments: the Railcar Leasing and Management Services Group, the Rail Products Group and the All Other Group. Further information can be found at: www.trin.net.
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