Waste Management, Inc. (NYSE: WM)
December 9, 2021 | Houston, TX
The Board of Directors of Waste Management, Inc. has declared a regular quarterly dividend of $0.65 per common share, an increase of 13% over the previous quarterly dividend.
From the press release: “Waste Management, Inc. (NYSE: WM) today announced that its Board of Directors has approved a 13% increase in the planned quarterly dividend rate for 2022, from $0.575 to $0.65 per share. On an annual basis, the dividend rate increases from $2.30 to $2.60. This will mark the nineteenth consecutive year that the Company has increased its per share dividend. The Company also received authorization from its Board of Directors to repurchase up to $1.5 billion of the Company’s common stock.
“The resiliency and exceptional cash generation of our business model has been on full display over the last several years. The pace of free cash flow growth in our business has exceeded expectations and positioned us to return more than $3.5 billion to shareholders since the end of 2019.(a) Our confidence in our business model and outlook positions us to plan the largest dividend increase we have had in nearly two decades,” said Jim Fish, President and Chief Executive Officer of Waste Management, Inc. “Additionally, our Board increased our share repurchase authorization, further demonstrating confidence in the Company’s cash flow generation and disciplined allocation of available cash.”
Waste Management’s Board of Directors must declare each future quarterly dividend prior to payment. The Board of Directors intends to declare the first quarter 2022 dividend in February, at which time the Company will announce the record and payment dates for this dividend. It is expected that the first increased dividend will be paid in March of 2022.”1
About the company: “Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.”1
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