Waste Management (WM)

[Steady_T]

WM increases Divy by 8%

Waste Management Announces Plan to Increase Quarterly Dividend Payments by 8%
WM (NYSE:WM)
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Today : Thursday 16 December 2010
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Waste Management, Inc. (NYSE:WM) today announced that its Board of Directors has approved an 8% increase in the planned quarterly dividend rate, from $0.315 to $0.34 per share. This marks the seventh consecutive year that the Company has increased its quarterly dividend. Actual future quarterly dividends must first be declared by its Board of Directors prior to payment.

“This announcement reflects our continued commitment to returning cash to our shareholders,” said David P. Steiner, Chief Executive Officer of Waste Management, Inc. “Waste Management continues to produce consistent and strong cash flows, as evidenced by the dividend increase. The Board of Directors and management remain focused on being prudent and disciplined stewards of the Company’s capital.”

The Company noted that the Board of Directors intends to declare the first quarter 2011 dividend in February, at which time the record and payment dates for the first 2011 quarterly dividend will be announced. It is expected that the first payment of the increased dividend will occur in March of 2011.