Houston-based Waste Management will increase its quarterly dividend by 8 percent, from $0.315 per share to $0.34 per share. The company says this is the seventh straight year that Waste Management has increased its quarterly dividend.
The first increased dividend payment should take place in March 2011, Waste Management says.
“This announcement reflects our continued commitment to returning cash to our shareholders,” said David P. Steiner, CEO of Waste Management, in a press release. “Waste Management continues to produce consistent and strong cash flows, as evidenced by the dividend increase. The Board of Directors and management remain focused on being prudent and disciplined stewards of the company’s capital.”