Interpool (NYSE:IPX)
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From Jul 2019 to Jul 2024
Interpool, Inc. (NYSE: IPX) announced that its Board of Directors has
established a new dividend policy for the Company for 2007. Interpool
plans to pay a quarterly dividend of $0.25 per share in each quarter of
2007, representing an annual dividend rate of $1.00 per share and a
substantial increase from the current annual dividend rate of $0.32 per
share. The increased dividend rate will begin with the January 2007
dividend payment, the record date for which will be set by the Board
later in 2006.
Martin Tuchman, Interpool's Chairman and Chief Executive Officer,
commented, "We are very pleased to be able to announce this significant
increase in our dividend rate for 2007, which reflects Interpool's solid
financial condition and cash resources as well as the strength of our
capital structure and our leasing business. As a result of the
successful sale of our operating lease container fleet in March 2006,
and other transactions we have entered into over the past year, we have
significantly reduced our long-term debt so that we are now in a
position to sustain a higher dividend rate. This new dividend policy is
the most recent in a series of steps our Board has taken to enhance
shareholder value."
Mr. Tuchman noted that, even with the increased dividend, Interpool
plans to continue to make significant investments in new equipment for
its active businesses of leasing cargo containers and container chassis
to shipping lines and other customers. In addition, he stated that
Interpool will continue to be well positioned to take advantage of
strategic opportunities that may arise at the parent company level.
Interpool is one of the world's leading suppliers of equipment and
services to the transportation industry. The company is the world's
largest lessor of intermodal container chassis and a world-leading
lessor of cargo containers used in international trade.
Note: This press release and other press releases and information can be
viewed at the Company's website at www.interpool.com.
This Press Release contains certain forward-looking statements regarding
future circumstances. These forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those contemplated in such forward-looking statements,
including in particular the risks and uncertainties described in the
company's SEC filings. The Company undertakes no obligation to publicly
release any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof.
Interpool, Inc. (NYSE: IPX) announced that its Board of Directors
has established a new dividend policy for the Company for 2007.
Interpool plans to pay a quarterly dividend of $0.25 per share in each
quarter of 2007, representing an annual dividend rate of $1.00 per
share and a substantial increase from the current annual dividend rate
of $0.32 per share. The increased dividend rate will begin with the
January 2007 dividend payment, the record date for which will be set
by the Board later in 2006.
Martin Tuchman, Interpool's Chairman and Chief Executive Officer,
commented, "We are very pleased to be able to announce this
significant increase in our dividend rate for 2007, which reflects
Interpool's solid financial condition and cash resources as well as
the strength of our capital structure and our leasing business. As a
result of the successful sale of our operating lease container fleet
in March 2006, and other transactions we have entered into over the
past year, we have significantly reduced our long-term debt so that we
are now in a position to sustain a higher dividend rate. This new
dividend policy is the most recent in a series of steps our Board has
taken to enhance shareholder value."
Mr. Tuchman noted that, even with the increased dividend,
Interpool plans to continue to make significant investments in new
equipment for its active businesses of leasing cargo containers and
container chassis to shipping lines and other customers. In addition,
he stated that Interpool will continue to be well positioned to take
advantage of strategic opportunities that may arise at the parent
company level.
Interpool is one of the world's leading suppliers of equipment and
services to the transportation industry. The company is the world's
largest lessor of intermodal container chassis and a world-leading
lessor of cargo containers used in international trade.
Note: This press release and other press releases and information
can be viewed at the Company's website at www.interpool.com.
This Press Release contains certain forward-looking statements
regarding future circumstances. These forward-looking statements are
subject to risks and uncertainties that could cause actual results to
differ materially from those contemplated in such forward-looking
statements, including in particular the risks and uncertainties
described in the company's SEC filings. The Company undertakes no
obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof.