Waste Connections Inc (WCN) Plans Dividend Increase – $0.16 Per Share

Waste Connections Inc (NYSE:WCN) announced a quarterly dividend on Monday, October 29th, RTT News reports. Shareholders of record on Tuesday, November 13th will be given a dividend of 0.16 per share by the business services provider on Tuesday, November 27th. This represents a $0.64 dividend on an annualized basis and a yield of 0.88%. This is a boost from Waste Connections’s previous quarterly dividend of $0.14.

Waste Connections has raised its dividend payment by an average of 16.4% annually over the last three years and has raised its dividend every year for the last 8 years. Waste Connections has a dividend payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Waste Connections to earn $2.83 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 19.8%.

WCN opened at $72.50 on Tuesday. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.57 and a beta of 0.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.15 and a quick ratio of 1.15. Waste Connections has a 1-year low of $65.06 and a 1-year high of $81.36.

Waste Connections (NYSE:WCN) last released its earnings results on Monday, October 29th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, analysts predict that Waste Connections will post 2.5 EPS for the current fiscal year.

WCN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Saturday, July 7th. Citigroup upped their target price on Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. TD Securities upped their target price on Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Finally, Royal Bank of Canada upped their target price on Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $84.11.

In other Waste Connections news, VP David Eddie sold 20,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $80.06, for a total value of $1,601,200.00. Following the transaction, the vice president now owns 36,320 shares of the company’s stock, valued at $2,907,779.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Darrell W. Chambliss sold 6,485 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The disclosure for this sale can be found here. Insiders sold 38,385 shares of company stock worth $3,063,670 in the last ninety days. 0.40% of the stock is owned by corporate insiders.

Waste Connections Company Profile

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Dividend History for Waste Connections (NYSE:WCN)

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