GFL Environmental increased its quarterly cash dividend by 10% to $0.011 per share on the company’s subordinate and multiple voting shares.
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GFL Environmental (GFL) announced that the new dividend will be paid on April 30 to shareholders of record as of April 19. Shares of the waste management company declined 1.8% to close at $34.63 on April 7.
The company’s annual dividend of $0.044 per share now reflects a dividend yield of 0.13%.
GFL Environmental is scheduled to report its first-quarter 2021 financial results on May 5, 2021. (See GFL Environmental stock analysis on TipRanks)
On April 7, Goldman Sachs analyst Jerry Revich initiated coverage of the stock with a Hold rating and a price target of $37 (6.8% upside potential) following the company’s acquisition spree but believes the shares are trading at a premium valuation.
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 6 Buys and 4 Holds. The average analyst price target of $36 implies 4% upside potential to current levels. Shares have increased 55% over the past six months.
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