Waste Management, Inc. - WM STOCK NEWS

Waste Management, Inc. (NYSE: WM) plans to announce its fourth quarter and full-year 2021 financial results on February 2, 2022, prior to market opening. An investor conference call will follow at 10 a.m. ET. A live audio webcast will be accessible via the company's investor website. For those unable to attend live, a replay will be available until February 16. Waste Management is a leading provider of waste management services across North America, including collection, transfer, disposal, and recycling.

Waste Management, Inc. (NYSE: WM) announced a 13% increase in its quarterly dividend from $0.575 to $0.65 per share, raising the annual dividend from $2.30 to $2.60. This marks the nineteenth consecutive year of annual dividend increases. Additionally, the Board approved a stock repurchase program of up to $1.5 billion, reflecting confidence in the company's cash flow and business model. The first increased dividend is expected to be declared in February 2022.

Post Capital Partners successfully completed the sale of EC Waste, LLC, a solid waste services provider in Puerto Rico, to 3i Group plc on November 30. Financial terms were not disclosed. EC Waste, acquired from Waste Management (WM) in April 2014, serves over 100,000 customers and operates compliant disposal sites. Under the leadership of Randy Jensen, the company grew significantly, employing over 350 individuals. The exit exemplifies Post Capital's Executive-First strategy, highlighting effective executive partnerships and strategic growth support.

Waste Management, Inc. (NYSE: WM) has declared a quarterly cash dividend of $0.575 per share, scheduled for payment on December 17, 2021. This dividend will be distributed to shareholders recorded on December 3, 2021, demonstrating the company's commitment to returning value to its investors. Waste Management is a leading provider of waste management services in North America, including collection, disposal, and recycling, with a strong focus on environmental sustainability.

Waste Management (WM) plans to invest $200 million in recycling infrastructure in 2022, increasing its total investment to over $700 million since 2018. This investment aims to enhance recycling capabilities and meet rising demand for recycled products. WM has recently opened new facilities in cities including Chicago and Salt Lake City, incorporating advanced technologies. By 2023, 95% of residential facilities will be upgraded, boosting recycling efficiency and capacity while supporting sustainability goals.

Waste Management, Inc. reported robust financial results for Q3 2021, with revenue reaching $4.665 billion, up from $3.861 billion in Q3 2020. This growth was fueled by a $260 million increase in collection and disposal operations, alongside $295 million from acquisitions, notably Advanced Disposal. Operating EBITDA rose to $1.323 billion, showcasing a margin of 28.4%. Diluted EPS improved to $1.28 from $0.92 year-over-year. The company anticipates total revenue growth of 17% to 17.5% for 2021, alongside a projected free cash flow between $2.5 billion and $2.6 billion.

Waste Management (NYSE: WM) will release its third quarter 2021 financial results on October 26, 2021, before the market opens. Following the release, an investor conference call is scheduled for 10 a.m. ET. Interested investors can listen via a live audio webcast on their website or by phone. A replay of the call will be available until November 9, 2021. Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management services in North America.