WM raises quarterly dividend 10% to 82.5c from 75c per share

WM (WM) announced that its Board of Directors has approved a 10.0% increase in the planned quarterly dividend rate for 2025, from 75c to 82.5c per share. This increase brings the annual dividend rate to $3.30 per share, up from $3.00, and marks the company’s twenty-second consecutive year of dividend increases. While the company has remaining authorization from WM’s Board of Directors to repurchase $1.24B of the company’s common stock, as previously announced, the company has temporarily suspended share repurchases. Pausing share repurchase activity reflects the company’s commitment to return to targeted leverage levels within about 18 months after the acquisition of Stericycle. Each individual future quarterly dividend will be declared at the discretion of WM’s Board of Directors prior to payment. It is expected that the first increased dividend will be paid in March of 2025.