One man’s trash is another man’s treasure.
The top garbage hauler in the nation is trader higher today after a dividend hike.
Waste Management (WM) said today its board has approved a 4.4% increase to its quarterly dividend, which brings the dividend to $ 0.355 per share.
Waste Management CEO David Steiner noted the company has nearly doubled its dividend per share since 2004, and that the company’s dividend yield is in the top 10% of the S&P 500.
The first increased dividend is expected to be paid in March 2012.
Rivals in the waste management sector include Casella Waste Systems (CWST) and Republic Services (RSG).
Waste Management shares are trading higher by about 2% today.