Waste Connections, Inc. (NYSE:WCN) Increases Dividend to $0.39 Per Share

Waste Connections, Inc. (NYSE:WCN) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.3850 per share by the business services provider on Thursday, November 19th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, November 5th. This is a 10.0% increase from Waste Connections’s previous quarterly dividend of $0.35.

Waste Connections has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Waste Connections has a payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Waste Connections to earn $6.22 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.5%.

Waste Connections Stock Performance

WCN stock traded up $15.17 during trading on Thursday, hitting $183.45. 2,049,303 shares of the company’s stock traded hands, compared to its average volume of 1,561,714. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections has a 52 week low of $146.89 and a 52 week high of $183.56. The stock has a fifty day moving average price of $160.94 and a two-hundred day moving average price of $161.42. The stock has a market capitalization of $46.04 billion, a price-to-earnings ratio of 44.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.49.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.60 billion. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Connections will post 5.65 EPS for the current fiscal year.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.