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TORONTO - Waste Connections, Inc. (TSX/NYSE: NYSE:WCN), a North American integrated waste services company with a market capitalization of $49 billion, has declared a regular quarterly cash dividend of $0.315 per common share. The dividend is payable on March 13, 2025, to shareholders of record as of the close of business on February 27, 2025. According to InvestingPro data, the company has consistently raised its dividend for 9 consecutive years, demonstrating strong commitment to shareholder returns.
The company, which operates in the U.S. and Canada, provides non-hazardous waste collection, transfer, and disposal services. It also engages in resource recovery through recycling and renewable fuels generation. Waste Connections serves around nine million customers and is also involved in non-hazardous oilfield waste treatment and intermodal services for cargo and solid waste containers. The company has demonstrated strong financial performance, with revenue growth of 10.7% in the last twelve months and a robust gross profit margin of 41.8%. InvestingPro analysis reveals 15+ additional key insights about the company’s performance and valuation metrics.
In line with its commitment to shareholder returns, the Board of Directors of Waste Connections reviews the quarterly dividend every October with the aim of potentially increasing it as part of their long-term strategy. The company’s dividend growth rate stands at 23.5% over the last twelve months, while maintaining a moderate level of debt and good overall financial health, according to InvestingPro’s comprehensive analysis.
Shareholders will receive their dividends in U.S. dollars if their shares are held through U.S. depositary DTC. Conversely, if shares are held through Canadian depositary CDS, dividends will be paid in Canadian dollars based on the Bank of Canada’s daily average exchange rate on February 27, 2025. Direct registrants with Computershare will receive dividends in Canadian dollars if they are residents of Canada or in U.S. dollars for non-residents, including those in the U.S.
Waste Connections emphasizes its Environmental, Social, and Governance (ESG) efforts, focusing on reducing emissions, increasing resource recovery, reducing landfill leachate reliance, and enhancing safety and employee engagement.
The forward-looking statements in the press release reflect the company’s expectations for future events and are subject to risks, uncertainties, and changes in circumstances. Waste Connections cautions that actual results may differ from those projected in these statements and does not undertake an obligation to update them. For detailed insights into the company’s valuation, financial health, and growth prospects, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro, which covers over 1,400 top US stocks.
The information presented in this article is based on a press release statement from Waste Connections, Inc.
In other recent news, Waste Connections has been the focus of Oppenheimer’s latest analysis. The firm has raised its price target for Waste Connections from the previous $192.00 to a new target of $195.00, while maintaining an Outperform rating for the company’s stock. This decision follows a series of investor meetings with Waste Connections’ top executives, during which strategic initiatives such as labor retention and a decentralized operating model were discussed.
These factors, according to Oppenheimer, could contribute to favorable price-cost trends and strong performance through fiscal year 2025. The recent elections were also seen as potentially advantageous, with expected tax, regulatory, and immigration policies likely to support higher profitability. Furthermore, a conducive environment for mergers and acquisitions was noted as a potential benefit.
However, softness in recycling and renewable identification number (RIN) commodity prices could slightly impact the company’s fourth-quarter 2024 results. Despite this, improvements are anticipated in the early part of the fiscal year 2025. These factors, along with Waste Connections’ core operating progress, led Oppenheimer to adjust its fiscal year 2024 through 2026 estimates for the company.
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