Welcome to our dedicated page for Atlas Corporation news (Ticker: ATCO), a resource for investors and traders seeking the latest updates and insights on Atlas Corporation stock.
Atlas Corp. (ATCO) appears frequently in financial and corporate news through its ongoing communications with investors and holders of its securities. Press releases issued from London, United Kingdom, describe Atlas as a global asset management company focused on high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Many of the company’s recent announcements concern its preferred share capital and related corporate actions.
News items for ATCO prominently feature quarterly dividend declarations on preferred shares. Atlas has repeatedly announced cash dividends on its Series D and Series H preferred shares, identified in the releases by tickers such as ATCO PD and ATCO PH, as well as on its Series J preferred shares. These releases provide details on dividend amounts, record dates and payment dates for each dividend period, giving income-focused investors insight into the timing and terms of preferred distributions.
Another category of Atlas-related news covers capital structure changes and redemptions. The company has issued releases on the full redemption of its Series I preferred shares and, through SEC filings, has reported the redemption of all outstanding Series H preferred shares. These events are relevant for investors tracking the evolution of Atlas’s preferred equity and the status of specific series.
Corporate transaction news is also part of the ATCO story. A press release details the completion of the acquisition of Atlas by Poseidon Acquisition Corp., in which a merger subsidiary combined with Atlas and Atlas requested the suspension of trading of its common shares on the New York Stock Exchange, described as a delisting. This type of news is important for understanding changes in ownership and listing status.
In addition, news related to Seaspan Corporation, a wholly owned subsidiary and one of Atlas’s main portfolio companies, appears in the same news stream. These items describe Seaspan’s activities in containership leasing and alternative-fuel vessel programs, illustrating the operational context behind Atlas’s asset management focus on maritime infrastructure.
Investors and observers using the ATCO news page can review this mix of dividend announcements, preferred share redemptions, merger developments and Seaspan operational updates to understand how Atlas communicates its capital decisions and portfolio activity over time.
On September 10, 2020, Seaspan Corporation, a subsidiary of Atlas Corp (NYSE: ATCO), announced it will not proceed with the voluntary redemption of its 7.125% senior unsecured notes maturing in 2027. This decision reflects a strategy to maintain financial stability amid global capital market uncertainties. The company may reconsider the early redemption in the future. Seaspan operates a fleet of 125 containerships, primarily chartered through long-term contracts, emphasizing its commitment to sustainable shareholder value.
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.