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”1

IMPORTANT DISCLOSURES: The securities discussed herein do not represent all of the securities held by the WCA Rising Dividend Portfolio as of the date presented and are subject to change at any time, without notice. A complete list of holdings as of the date noted above will be provided upon request. The above is presented to illustrate the application of the strategy only and not intended as personalized recommendations of any particular security. The securities identified and described above do not represent all of the securities purchased, sold, or recommended for client accounts. You should not assume that an investment in any of the securities identified was or will be profitable. Changes in market conditions or a company’s financial condition may impact the company’s ability to continue to pay dividends. Companies may also choose to discontinue dividend payments. All investments involve risk, including loss of principal, and there is no guarantee that investment objectives will be met. It is important to review your investment objectives, risk tolerance and liquidity needs before choosing an investment style or manager. Equity investments are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors to varying degrees. Fixed Income investments are subject to market, market liquidity, issuer, investment style, interest rate, credit quality, and call risks, among other factors to varying degrees.