Waste Management Company WM's Shareholder Bonanza: Hikes Dividend & Refreshes Stock Buyback
Portfolio Pulse from Shivani Kumaresan
Waste Management Inc (NYSE:WM) announced a 7.1% dividend increase for 2024, raising the quarterly dividend from $0.70 to $0.75 per share. This marks the 21st consecutive year of dividend growth. Additionally, the Board authorized a new $1.5 billion stock buyback program, replacing the previous authorization. The company's strong cash flow supports these shareholder returns, with $150 million in cash and equivalents as of September 30, 2023. WM shares closed up 0.51% at $173.38.
December 12, 2023 | 10:34 am
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POSITIVE IMPACT
Waste Management Inc (WM) has increased its quarterly dividend by 7.1% and announced a new $1.5 billion stock buyback program, indicating strong cash flow and commitment to shareholder returns.
The increase in dividend and the new stock buyback program are positive signals to investors, reflecting the company's financial health and commitment to returning value to shareholders. This typically has a positive impact on investor sentiment and can lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100