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GATX INCREASES DIVIDENDS FOR EIGHTH CONSECUTIVE YEAR

 CHICAGO, Jan. 29 /PRNewswire/ -- GATX Corporation (NYSE: GMT) today announced that its board of directors approved a 7.7 percent increase in its quarterly dividend to $.35 per common share, payable March 31, 1993, to shareholders of record March 5, 1993. On an annual basis, this is an increase from $1.30 to $1.40 per common share.
 James J. Glasser, chairman, president and chief executive officer of GATX stated, "This increase to our common dividend represents the eighth increase in as many years. In this same period, GATX's cash flow from operations and portfolio proceeds grew from $201 million to $360 million, representing an annualized growth rate of 9 percent. Even in a year such as 1992 when non-cash adjustments and provisions substantially eroded reported earnings, GATX's cash flow remained strong. As a result of our continuing confidence in the quality and stability of these cash flows, we increased GATX's common dividend today."
 The board also declared a quarterly dividend of $.625 per share on the $2.50 preferred stock, payable March 1, 1993, to shareholders of record Feb. 15, 1993.
 GATX Corporation is a $3.4 billion service-based asset company which provides capital equipment and related services for use in various domestic and international markets. Customers utilize GATX's rail, aircraft, bulk liquid storage terminals, pipelines, logistics support and warehousing, and shipping assets to operate their businesses on a daily basis. GATX Corporation (GMT) is listed on the New York, London, and other stock exchanges.
 -0- 1/29/93
 /CONTACT: George S. Lowman of GATX Corp., 312-621-6599/
 (GMT)


CO: GATX Corporation ST: Illinois IN: TRN SU: DIV

SH -- NY062 -- 0841 01/29/93 14:36 EST
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Publication:PR Newswire
Date:Jan 29, 1993
Words:277
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