Atlas Declares Quarterly Dividends on Common and Preferred Shares

LONDON, April 1, 2020 /CNW/ – Atlas Corp. ("Atlas") (NYSE: ATCO) announced today that the Company’s Board of Directors has declared cash dividends on its common and preferred shares as follows: 

Bing Chen, Chief Executive Officer of Atlas, commented, "Although this is Atlas’ first distribution of common and preferred share dividends, it is the 59th consecutive dividend paid by Seaspan. Our resilient business models, which are built on long-term contracted revenues, predictable cash flows and integrated partnerships with our customers, are a testament to our financial strength and operational stability. Our recent acquisition of APR further strengthens our business models’ resilience and positions us to continue capturing attractive opportunities arising from the current turbulent market. Despite this unprecedented market environment, we remain fully on track and laser focused on maximizing long-term shareholder value through our proven commitment to disciplined capital allocation such as dividend distributions."

Ryan Courson, Chief Financial Officer of Atlas, commented, "Today’s dividend announcement is evidence of Atlas’ continued disciplined capital allocation. Our strong balance sheet and credit profile allow the group to maintain robust liquidity and broad access to the global capital markets, as demonstrated by our recently announced 10-year, flexible financing program for the acquisition of four high quality vessels backed by long-term charters. Atlas’ scale, diversified portfolio and financial strength enable us to focus on our strategic priorities, creating sustainable value for shareholders across economic cycles."

About Atlas

Atlas is a leading global asset management company, differentiated by its position as a best-in class owner and operator with a focus on deploying capital to create sustainable shareholder value. Atlas brings together an experienced asset management team with deep operational and capital allocation experience. We target long-term, risk adjusted returns across high quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Our two main portfolio companies, Seaspan Corporation and APR are unique, industry-leading operating platforms in the global maritime and energy spaces, respectively.

For more information visit atlascorporation.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including forward-looking statements regarding our ability to grow and to capitalize on opportunities in turbulent markets or at all.  Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", "projects", "forecasts", "will", "may", "potential", "should", and similar expressions are forward looking statements. These forward-looking statements reflect management’s current expectations only as of the date of this release. As a result, you are cautioned not to rely on any forward-looking statements. Although these statements are based upon assumptions we believe to be reasonable based upon available information, they are subject to risks and uncertainties. These risks and uncertainties include, but are not limited to: the potential that we will not be able to take advantage of opportunities arising from the current turbulent markets; and other factors detailed from time to time in our periodic reports and filings with the Securities and Exchange Commission, including Seaspan’s Annual Report on Form 20-F for the year ended December 31, 2018. We expressly disclaim any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of any of our securities.

Investor Inquiries:

Bill Stormont
Investor Relations
Atlas Corp.
Tel. +1-604-638-7240
Email: [email protected]

SOURCE Atlas Corp.