Waste Connections (TSE:WCN) Reaches New 52-Week High After Dividend Announcement

Waste Connections Inc (TSE:WCN)’s stock price hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as C$136.84 and last traded at C$135.62, with a volume of 187263 shares traded. The stock had previously closed at C$132.77.

The newly announced dividend which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Wednesday, February 26th. This is an increase from Waste Connections’s previous quarterly dividend of $0.19. Waste Connections’s dividend payout ratio is 31.07%.

Separately, KeyCorp upgraded Waste Connections from a “sector perform” rating to an “overweight” rating in a research note on Friday, October 18th.

The company has a market cap of $35.97 billion and a P/E ratio of 64.27. The firm has a 50 day moving average price of C$126.10 and a 200-day moving average price of C$121.78. The company has a debt-to-equity ratio of 63.45, a quick ratio of 0.99 and a current ratio of 1.11.

In other news, Senior Officer David G. Eddie sold 934 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$119.53, for a total transaction of C$111,637.28. Following the completion of the sale, the insider now owns 41,023 shares in the company, valued at approximately C$4,903,315.10.

About Waste Connections (TSE:WCN)

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

Further Reading: How to Invest in the Dividend Aristocrat Index

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