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Covanta Holding Corporation (NYSE: CVA) announced a quarterly cash dividend of $0.08 per share, payable on January 8, 2021. This dividend will be given to stockholders recorded by the close of business on December 31, 2020. Covanta operates in sustainable waste and energy solutions, converting 21 million tons of waste annually into renewable electricity, serving about one million homes. The announcement reflects Covanta's commitment to returning value to its shareholders.
Covanta Holding Corporation (NYSE: CVA) has achieved financial close for the Protos Energy Recovery Facility in Cheshire, England, partnering with Green Investment Group and Biffa. Each will own 37.5% of the facility, while Biffa holds a 25% stake. The facility aims to treat 400,000 tonnes of non-recyclable waste annually, producing 49 megawatts of low-carbon electricity for around 90,000 homes. Construction, led by Mytilineos S.A. and Standardkessel Baumgarte GmbH, is expected to create significant economic opportunities over its three-year term.
Covanta Holding Corporation (NYSE: CVA) announced a strategic review of its operations, growth priorities, and capital structure, led by newly appointed CEO Michael Ranger, replacing Stephen Jones. This review aims to enhance shareholder value by exploring options for various business lines. The board believes that Covanta's assets are undervalued in the market. Ranger plans to realign the management team to focus on key priorities, with Derek Veenhof as COO and Owen Michaelson set to join as President of Covanta Europe.
Covanta Holding Corporation (NYSE: CVA) reported Q3 2020 financial results, showing revenue growth to $491 million from $465 million in Q3 2019. However, net income decreased to $5 million from $14 million year-over-year. Adjusted EBITDA increased slightly to $128 million, up from $125 million. The company experienced a 3% rise in tip fees and noted a recovery in waste markets. Covanta emphasized its commitment to operational safety and ongoing growth initiatives, particularly in the UK, despite a challenging operating environment.
Covanta Holding Corporation (NYSE: CVA) will hold a conference call on October 30, 2020, at 8:30 AM to discuss its third quarter results, with a press release to be issued post market on October 29, 2020. Interested participants can join the call by dialing 1-888-317-6003 (US) or 1-412-317-6061 (international) and entering passcode 7514272. The conference call will include prepared remarks followed by a Q&A session and will be available as a live webcast. Covanta specializes in sustainable waste-to-energy solutions, converting 21 million tons of waste annually into renewable electricity.
On September 24, 2020, Covanta (NYSE: CVA) announced the launch of its redesigned website, enhancing the user experience for stakeholders interested in sustainable waste management. The site includes new sections such as 'Our Story,' 'Covanta Environmental Solutions,' and a 'Virtual Tour' of facilities. With a focus on environmental sustainability, Covanta aims to assist communities and businesses in exploring waste management options beyond landfilling. Annually, the company converts 21 million tons of waste into renewable energy, powering one million homes.
On September 18, 2020, New Jersey Governor Phil Murphy signed landmark environmental justice legislation, emphasizing protection for communities burdened by emissions. Covanta, a leader in waste-to-energy solutions, has long prioritized environmental justice, recently investing $90 million in emissions control technology in Newark, reducing emissions by over 90%. The company plans to invest an additional $40-50 million in Camden for further emissions improvements. Covanta advocates for collective action to address pollution sources affecting vulnerable communities, reaffirming its commitment to sustainable practices.
Covanta Holding Corporation (NYSE: CVA) announced a quarterly cash dividend of $0.08 per share, scheduled to be paid on October 9th, 2020. Stockholders of record as of the close of business on September 28th, 2020 will receive the dividend. Covanta specializes in sustainable waste and energy solutions, converting approximately 21 million tons of waste annually into clean, renewable electricity, powering one million homes.
