Waste Connections Inc (WCN) to Issue Quarterly Dividend of $0.19 on August 18th

Waste Connections Inc (NYSE:WCN) announced a quarterly dividend on Thursday, July 23rd, Zacks reports. Shareholders of record on Tuesday, August 4th will be paid a dividend of 0.185 per share by the business services provider on Tuesday, August 18th. This represents a $0.74 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Monday, August 3rd.

Waste Connections has raised its dividend by an average of 7.6% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Waste Connections has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Waste Connections to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 26.2%.

WCN opened at $102.44 on Friday. The stock has a market capitalization of $26.78 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 4.97 and a beta of 0.47. Waste Connections has a 1-year low of $70.87 and a 1-year high of $105.17. The business has a 50 day moving average of $95.00 and a 200-day moving average of $92.63. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78.

Waste Connections (NYSE:WCN) last issued its earnings results on Thursday, May 7th. The business services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Waste Connections had a return on equity of 10.71% and a net margin of 10.63%. Waste Connections’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Equities analysts predict that Waste Connections will post 2.39 EPS for the current year.

In related news, CEO Worthing Jackman sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $92.26, for a total value of $1,660,680.00. Following the transaction, the chief executive officer now owns 113,239 shares in the company, valued at $10,447,430.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Several research analysts recently commented on WCN shares. UBS Group reduced their target price on Waste Connections from $156.00 to $146.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Royal Bank of Canada increased their price objective on Waste Connections from $98.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Deutsche Bank increased their price objective on Waste Connections from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. KeyCorp increased their price objective on Waste Connections from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, Raymond James increased their price objective on Waste Connections from $106.00 to $114.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $107.93.

About Waste Connections

Waste Connections, Inc 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, mixed 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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