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Infrastructure

Higher Dividends in Garbage (WM, RSG)

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By Jon C. Ogg Updated Published

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

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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