Waste Management Ramps Up Quarterly Dividend By 5.5%; Street Sees 17% Upside
Waste Management raised its quarterly cash dividend by 5.5% to
$0.575 per share. This marks the waste management services
provider’s 18th consecutive year of regular dividend increases.
Waste Management (WM) announced that the new dividend will be paid
on March 26, to shareholders of record as of March 12. The
company’s annual dividend of $2.30 per share now reflects a
dividend yield of 2.09%. On Feb. 18, Waste Management reported 4Q
results. The company’s 4Q adjusted earnings declined 5%
year-over-year to $1.13 per share but outpaced Street estimates of
$1.11. Revenues increased 5.7% to $4.07 billion and exceeded
analysts’ expectations of $3.98 billion.