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Waste Management Inc

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Waste Management Tries to Woo Investors With Increases to Dividend & Buyback

Waste Management Inc. (WM) is a leading provider of comprehensive waste management environmental services in North America. In addition to waste collection and recycling, the company is a leading developer, operator and owner of landfill gas-to-energy facilities in the United States.

The company generated 66% of its revenue from Collection, 24% of its revenue from Landfill, 12% of its revenue from Transfer and 7% of its revenue from Recycling in 2020. Within its Collection segment, the company’s revenues were split between Commercial (41%), Residential (27%), Industrial (28%) and Other (5%) sources.

Strong Top- and Bottom-Line Growth

Waste Management reported fourth-quarter revenue that rose by 5.7% to $4.07 billion, beating consensus estimates by $100 million, with non-GAAP earnings of $1.13 per share, beating consensus estimates by four cents per share.

Despite the strong performance, the company has struggled to attract investors. In a move to show its commitment to shareholders, the company raised its quarterly dividend by 5.5% to $0.575 per share, which represents a 1.99% forward yield. The dividend is payable on March 26, 2021 to shareholders on record as of March 12, 2021.

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