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VAUGHAN, ON - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL), a North American leader in diversified environmental services, today declared a 10% increase in its regular quarterly cash dividend. The announcement marks an uptick from the previous US$0.014 per share to US$0.0154 per share. According to InvestingPro data, this continues the company’s impressive track record of raising dividends for five consecutive years.
The enhanced dividend is scheduled for distribution on April 30, 2025, to shareholders who are on record as of April 14, 2025. The Company has also noted that this dividend is considered an eligible dividend as per the Income Tax Act in Canada.
GFL Environmental, with its headquarters in Vaughan, Ontario, stands as the fourth largest diversified environmental services firm in North America, with a market capitalization of $19.2 billion. The company boasts a substantial footprint, offering a wide array of solid waste management services across numerous facilities in Canada and 18 states in the U.S. GFL employs over 15,000 individuals throughout its operations. The company’s stock has demonstrated strong momentum, delivering a 44% return over the past year and currently trading near its 52-week high of $49.35.
While the dividend increase is a positive indicator, the company’s press release also contained forward-looking statements. These statements are not absolute guarantees of future performance as they are subject to various risks and uncertainties that could cause actual results to differ materially. For deeper insights into GFL’s financial health and future prospects, InvestingPro offers comprehensive analysis through its detailed Pro Research Report, available with subscription.
The press release emphasized that future dividends are at the discretion of GFL’s Board of Directors and may vary based on the company’s performance and other factors.
This financial update is based on a press release statement from GFL Environmental Inc. and reflects only the facts contained therein without speculation or subjective interpretation.
In other recent news, GFL Environmental has received regulatory approval from the Ontario Securities Commission to repurchase its subordinate voting shares, allowing the company to buy back up to 50% of shares offered in any secondary offering over the next 12 months. The firm plans to use approximately $2.25 billion from the sale of its Environmental Services business for these buybacks, depending on market conditions. Jefferies analyst Stephanie Moore raised her price target for GFL Environmental to $55, maintaining a Buy rating, citing the company’s straightforward and achievable plans presented during its Investor Day. BMO Capital Markets also adjusted its price target to $48, maintaining a Market Perform rating, noting potential growth through mergers and acquisitions despite conservative earnings guidance for 2025. Stifel analyst Brian J. Butler upgraded GFL Environmental’s stock rating from Hold to Buy, with a steady price target of C$85, following strong fourth-quarter results and optimistic forecasts for fiscal year 2025. Citi initiated coverage on GFL Environmental with a Buy rating and set a price target of $53, reflecting confidence in the company’s future prospects. These developments highlight a period of strategic financial maneuvers and positive analyst outlooks for GFL Environmental.
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