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 March 16, 2022, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced an agreement with a major European liner to extend charter terms for 18 containerships, previously set to roll-off in 2023 and 2024, now extending to 2025. This deal is projected to generate approximately $0.2 billion in incremental gross contracted cash flow over 2023-2025. CEO Bing Chen emphasized the partnership's effectiveness in providing predictable cash flows and minimizing roll-off risks.
Atlas Corp. (NYSE: ATCO) has scheduled its 2022 Investor Day for March 30, 2022, at 10:00 a.m. E.T., to be held at the New York Stock Exchange and accessible via live webcast. The management team will present the company’s operational and financial strategies alongside long-term financial guidance. Chairman David Sokol will open the event, which will also feature a Q&A session. Due to COVID-19 precautions, in-person attendance will be limited and by invitation only. A replay of the webcast will be available 48 hours post-event, viewable for one year.
Edwards, a leader in semiconductor supply, is investing in a new 200,000-square-foot manufacturing facility in Chandler, Arizona. This facility will utilize advanced technologies to support the growing semiconductor market, creating approximately 200 jobs locally. With construction underway, the site will begin operations in Q3, focusing on the remanufacturing and assembly of vacuum pump equipment essential for semiconductor fabrication. This investment underlines Edwards' commitment to sustainable practices and enhancing supply chain capacity in North America.
Atlas Corp. (NYSE: ATCO) reported strong financial results for FY 2021, exceeding its raised guidance. Revenue rose by 18.1% to $1.646 billion, with a net earnings increase to $400.5 million ($1.26 per diluted EPS). Adjusted EBITDA reached $1.116 billion, up 20.8%. The company is initiating FY 2022 guidance with an expected adjusted EBITDA of $1.138 billion. Atlas maintains a robust liquidity position of $888.6 million and plans significant investments of $7.6 billion for future growth.
On February 8, 2022, APR Energy, a subsidiary of Atlas Corp. (NYSE: ATCO), announced a contract to provide Evolution Power Partners with 228 MW of gas generation capacity in Brazil. The project includes a turn-key natural gas-fired power plant in Itaguaí, scheduled to begin operations on May 1, 2022. This initiative is part of Brazil's strategy to address energy shortages due to a severe drought affecting hydro power availability. This marks APR's entry into the Brazilian market, highlighting its commitment to delivering sustainable and reliable energy solutions.
Atlas Corp. (NYSE: ATCO) announced on Feb. 2, 2022, that its subsidiary APR Energy has extended its contract with California's Imperial Irrigation District (IID) to provide about 75 MW of backup energy through 2022. This extension follows APR's successful services in 2021, contributing to IID's grid stability during high-demand periods. APR's solutions include three fully staffed GE TM2500 turbine plants in El Centro and Calexico, each generating 25 MW. IID's proactive approach helps secure energy services at pre-determined prices to ensure reliability for its customers.
Atlas Corp. (NYSE: ATCO) will participate in the Stifel 2022 Transportation & Logistics Conference on February 8th, 2022. CEO Bing Chen is scheduled for a panel discussion on Container Shipping & Port Infrastructure from 9:20 am to 10:30 am ET. Additionally, the management team will engage in investor meetings during the event. A live webcast of the panel will be accessible through the provided link, with a replay available for 24 hours post-event. Atlas focuses on creating sustainable shareholder value in the maritime and energy sectors.
Atlas Corp. (NYSE: ATCO) will release its financial results for Q4 and the year ending December 31, 2021, on February 16, 2022, post-market close. A conference call for shareholders and interested parties is scheduled for February 17, 2022, at 8:30 a.m. ET to discuss these results. Interested participants can join via dial-in numbers or by accessing a live webcast on the company's website. A replay will be available shortly after the call, lasting until March 3, 2022.
On January 5, 2022, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced the completion of financing for its 70-vessel newbuild program. The financing, totaling around $6.9 billion, supports a total investment of approximately $7.6 billion. The latest financing, concluded on December 23, 2021, involves $1.4 billion for ten new LNG dual-fuel vessels. This arrangement combines export credit agency-backed loans and innovative sale-leaseback contracts, enhancing liquidity and securing low-cost funding through strong global partnerships.
On December 15, 2021, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced a groundbreaking financing arrangement totaling approximately $838 million. This innovative financing combines two existing asset financing structures to support the acquisition of eight newbuild vessels. The financing includes a 12-year syndicated loan and sale-leaseback agreements, enhancing Seaspan's capital structure with lower costs and extended maturity profiles. This deal allows Seaspan to secure funding for 60 of its 70 newbuild vessels, promoting long-term liquidity and growth.