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.
Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced the delivery of two 12,200 TEU containerships, set to begin 18-year charters with a major liner customer. These deliveries mark the second and third of five newbuilds in this class and were completed approximately two months ahead of schedule. Since November 2020, Seaspan has ordered 70 newbuilds, adding 839,000 TEU and generating over $11 billion in gross contracted cash flows, bringing its total fleet capacity to 1,959,200 TEU.
Atlas Corp. (NYSE: ATCO) clarified recent media speculation regarding Fairfax Financial Holdings Limited's shareholding. Contrary to reports, Fairfax has not sold any Atlas common shares and remains a long-term partner. As per the amended Form 13F filed on November 17, 2021, Fairfax reported holdings of 99,981,389 Atlas shares as of September 30, 2021, indicating an increase from 99,932,826 shares as of June 30, 2021.
Atlas Corp. reported strong Q3 2021 financial results with a 17.0% revenue growth to $451.9 million compared to Q3 2020. Adjusted EBITDA increased 29.0% to $322.2 million, while Funds from Operations (FFO) rose 42.9% to $248.0 million. Earnings per diluted share stood at $0.30, with adjusted diluted EPS growing 107.4% to $0.56. The company also secured $17.9 billion in total gross contracted cash flow and delivered the first of 70 newbuild vessels ahead of schedule.
Atlas Corp. (NYSE: ATCO) will release its financial results for Q3 2021 on November 8, 2021, after market close. A conference call for all stakeholders is scheduled for November 9, 2021, at 8:30 a.m. ET to discuss these results. Interested parties can access the conference call via toll-free US/Canada dial-in or through an international line. The call will be archived for one year on their website.
Atlas Corp. (NYSE: ATCO) has declared cash dividends for its common and preferred shares. The common share dividend is set at $0.125 per share for the period of July 1, 2021, to September 30, 2021, with a record date of October 20, 2021, and a payment date of November 1, 2021. Preferred share dividends include $0.496875 (Series D), $0.492188 (Series H), $0.50 (Series I), and $0.4375 (Series J) for the period of July 30, 2021, to October 29, 2021. This marks the 65th consecutive common share dividend declared by Atlas and its predecessor.
On October 4, 2021, Seaspan Corporation, a wholly owned subsidiary of Atlas Corp. (NYSE: ATCO), announced the delivery of a 12,200 TEU containership. This vessel will begin an 18-year charter with a major liner customer, marking a key milestone in Seaspan's growth strategy. Since November 2020, Seaspan has ordered 70 newbuild containerships, projecting over $11 billion in gross cash flows. The fleet will expand to a total capacity of 1,959,200 TEU. CEO Bing Chen highlighted this early delivery as a testament to Seaspan's operational capabilities amidst global supply chain challenges.
Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), has secured an agreement with a major shipyard to build ten 7,000 TEU modern containerships, expected to deliver between Q2 and Q4 of 2024. These scrubber-fitted vessels are projected to generate $1.4 billion in gross contracted cash flows. This order adds to Seaspan's previous commitment to fifteen dual-fuel vessels, underlining strong customer demand and a strategy to modernize the fleet.
Seaspan has a total of 70 newbuild orders since December 2020, aiming to expand its presence in key maritime sectors.
Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), has received an upgrade from Kroll Bond Rating Agency, raising its corporate rating to BB+ from BB and its Senior Secured rating to BBB from BBB-. The upgrade recognizes the company's advancements in capital management and business risk management, including a diversified customer base and improved funding sources. Seaspan's innovative portfolio financing program has grown to approximately $2.5 billion, enhancing its financial flexibility and stability.
Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), has announced that ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) will charter five new dual-fuel LNG containerships. These ships, with a total purchase price of about $530 million, are expected to generate approximately $900 million in gross contracted cash flow over 12 years. Construction is set to begin with a major shipyard, and the vessels are expected to be delivered in Q4 2024. The move underscores Seaspan's commitment to ESG initiatives and meeting customer demand.
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