By Kimberly Chin

Waste Management Inc. said Monday that it plans to raise its quarterly dividend by more than 5% and refresh the authorization under its stock buyback program.

The company's board has approved a plan to increase its dividend to 5.75 cents a share from 5.45 cents a share. This will raise its annual dividend to $2.30 a share from $2.18 a share, the company said. The company expects the new dividend will be payable in March 2021.

The company's board has also authorized a buyback program of up to $1.35 billion, superseding the authority remaining under its $1.5 billion stock buyback program from 2018.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

December 14, 2020 17:25 ET (22:25 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Waste Management (NYSE:WM)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Waste Management Charts.
Waste Management (NYSE:WM)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Waste Management Charts.