Infrastructure

Higher Dividends in Garbage (WM, RSG)

Waste Management Inc. (NYSE: WM) has announced an increase to its quarterly dividend rate by about 8% this morning.  The old $0.315 per quarter dividend will now come to $0.34 per quarter.  This new dividend will generate a dividend yield, based on the $36.17 close on Wednesday, of 3.76% versus close to 3.50% before.

The Houston-based garbage and waste management giant will pay the dividend in March with a formal date to be announced soon.  This marks the 7th consecutive year of a dividend hike.

The move follows a similar dividend hike from Republic Services, Inc. (NYSE: RSG) a quarter ago after it hiked its quarterly payout to $0.20 from $0.19.  The rival dividend from Republic probably has a lot more room to rise as that rate is 2.66% per year.  Rival Republic was also listed recently as one of our ten stocks to hold for the next decade, and that pick was very very close to being Waste Management.

So far, there has been no pre-market boost to Waste Management shares.

JON C. OGG

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.