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WM Waste Management

207.88
0.72 (0.35%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Waste Management NYSE:WM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.72 0.35% 207.88 208.60 204.91 207.16 2,237,958 01:00:00

WM Raises Dividend 7.1%, Authorizes $1.5 Billion in Buybacks

11/12/2023 11:42pm

Dow Jones News


Waste Management (NYSE:WM)
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By Ben Glickman

 

WM, previously known as Waste Management, increased its dividend 7.1% and authorized up to $1.5 billion in share buybacks, which the company said reflected its consistent cash flow generation.

The Houston-based trash and recycling collection company said Monday it would pay a quarterly dividend of 75 cents in 2024, up from a prior payout of 70 cents this year.

The dividend, equal to $3 a year, represents an annual yield of 1.7% based on the Monday closing price of $173.38.

The company said the raise was its 21st consecutive year lifting its payout.

WM said the buyback authorization superseded the repurchases authorized under the prior $1.5 billion authorization from 2022.

Chief Executive Jim Fish said the company's cash flow would allow it to continue to allocate capital to shareholder returns.

 

Write to Ben Glickman at ben.glickman@wsj.com

 

(END) Dow Jones Newswires

December 11, 2023 18:27 ET (23:27 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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