WM (WM) Announces 10% Dividend Rate Increase for 2025

WM (NYSE: WM) today announced that its Board of Directors has approved a 10.0% increase in the planned quarterly dividend rate for 2025, from $0.75 to $0.825 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.

“Our operating and financial results showcase the power of our business to generate strong and consistent cash flow, which positions us to fund all of our capital allocation priorities,” said Jim Fish, President and Chief Executive Officer of WM. “This year, we prioritized the strategic acquisition of Stericycle, the continued investment in high-return growth projects in our renewable energy and recycling businesses, and an outpaced year of solid waste acquisitions. With the strength of our cash flow generation and strong balance sheet, we did all of this while also paying more than $1.2 billion in dividends to our shareholders.”

Fish continued, “The double-digit dividend rate increase signals our confidence in our ability to continue to generate robust cash flow in 2025. For the year ahead and in the long-term, we are dedicated to a disciplined approach to capital allocation. Our focus remains on delivering strong shareholder returns through dividend growth and prudent share repurchases, fostering long-term strategic growth from organic and inorganic opportunities, and maintaining a solid investment grade credit rating.”

While the Company has remaining authorization from WM’s Board of Directors to repurchase $1.24 billion 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.

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