Atlas Corp. operates as a global asset management company focused on long-term, risk-adjusted returns from infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Recurring Atlas news centers on preferred-share capital actions, including quarterly cash dividend declarations on preferred series and completed redemptions of preferred securities. Company updates also describe maritime asset activity, including vessel programs and long-term charter arrangements in transportation infrastructure.
Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced the delivery of two 13,000 TEU containerships, built in 2010 and 2011, on September 10, 2020. These vessels have started long-term charters with a major global liner, reinforcing Seaspan's growth strategy. Since December 2019, Seaspan has acquired 13 high-quality vessels, demonstrating commitment to expanding its operations and strengthening customer partnerships. The company continues to focus on generating attractive risk-adjusted returns while maintaining a strong liquidity position.
Seaspan Corporation, a subsidiary of Atlas Corp (NYSE: ATCO), has received a Senior Secured rating of BBB- and a BB corporate rating from Kroll Bond Rating Agency, reflecting its strength in containership leasing. The BBB- rating supports Seaspan's innovative financing program, exceeding $1.7 billion, aimed at diversifying funding sources and reducing overall costs. CEO Bing Chen emphasized the firm's resilience in challenging markets while CFO Ryan Courson noted the company's ongoing efforts to reshape its balance sheet and broaden capital sources.
Atlas Corp. (NYSE: ATCO) plans to release its financial results for the quarter ending June 30, 2020, on August 11, 2020. A conference call will be held at 8:30 a.m. ET on the same day for shareholders and interested parties to discuss the results. The call can be accessed via toll-free numbers, and a webcast will also be available on their website, where it will be archived for a year. For more details about Atlas and its operations in the maritime and energy sectors, visit atlascorporation.com.
On July 23, 2020, Seaspan Corporation, a subsidiary of Atlas Corp (NYSE: ATCO), announced the acquisition of two containerships for approximately $146 million. The deal, expected to be funded through borrowings and cash reserves, aims to enhance long-term contracted revenue by over $150 million. Following this acquisition, Seaspan's fleet will include 125 vessels with total contracted revenue reaching approximately $4.5 billion. The vessels, built in 2010 and 2011, will operate under long-term charters with a leading global liner.
Atlas Corp. (NYSE: ATCO) has declared cash dividends for its common and preferred shares. The common shares will receive a dividend of $0.125 payable on July 30, 2020, with a record date of July 20, 2020. Additionally, the Series D preferred shares will receive $0.496875, Series E preferred shares will receive $0.515625, Series G preferred shares will receive $0.5125, Series H preferred shares will receive $0.492188, and Series I preferred shares will receive $0.50, all payable on July 30, 2020.