Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Waste Management (WM ) reported its fourth quarter results before the opening bell on Tuesday, posting slightly lower revenues and higher adjusted earnings compared to last year’s Q4.
WM president and CEO David P. Steiner had the following comments: “We built strong momentum during the first three quarters of 2014, and that momentum continued into the fourth quarter. Our strong pricing and cost controls delivered growth in our traditional solid waste business as income from operations grew $36 million and income from operations margin rose by 130 basis points compared to the fourth quarter of 2013. In addition, operating EBITDA in the traditional solid waste business grew by $25 million and operating EBITDA margins expanded by 100 basis points.(b) For the seventh consecutive quarter, our yield was at least 2.0% and volumes improved sequentially for the fourth consecutive quarter. Our cost of operations improved by $97 million and as a percent of revenue improved 170 basis points compared to the prior year fourth quarter."
In its quarterly report, Waste Management reported that its board of directors plans on raising its annualized dividend to $1.54 from $1.50. We expect the company to declare the higher dividend in the coming weeks.
Waste Management stock was up $1.72, or 3.35%, in pre-market trading. YTD, the stock is down 0.89%.