Waste Connections Announces 13% Increase In Quarterly Cash Dividend And Extends Its Existing Share Repurchase Program

News provided by

Oct 21, 2014, 04:06 ET

THE WOODLANDS, Texas, Oct. 21, 2014 /PRNewswire/ -- Waste Connections, Inc. (NYSE: WCN) today announced that its Board of Directors has declared a 13% increase in the regular quarterly cash dividend on the Company's common stock. The regular quarterly cash dividend, which increases from $0.115 per share to $0.13 per share, is payable on November 18, 2014, to stockholders of record on the close of business on November 4, 2014. The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount of the dividend.

The Company also announced that its Board of Directors has extended the term of its existing $1.2 billion common stock repurchase program through December 31, 2017. As of September 30, 2014, the remaining maximum dollar value of shares available for repurchase under the program was approximately $416 million. Stock repurchases may be made pursuant to a Rule 10b5-1 plan or in open market or privately negotiated transactions from time to time at management's discretion. The timing and amounts of any repurchases will depend on many factors, including the Company's capital structure, acquisition activity, the market price of the common stock and overall market conditions.

Waste Connections, Inc. is an integrated solid waste services company that provides waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets. Through its R360 Environmental Solutions subsidiary, the Company is also a leading provider of non-hazardous oilfield waste treatment, recovery and disposal services in several of the most active natural resource producing areas in the United States, including the Permian, Bakken and Eagle Ford Basins. Waste Connections serves more than two million residential, commercial, industrial, and exploration and production customers from a network of operations in 31 states. The Company also provides intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. Waste Connections, Inc. was founded in September 1997 and is headquartered in The Woodlands, Texas.

For more information, visit the Waste Connections web site at www.wasteconnections.com. Copies of financial literature, including this release, are available on the Waste Connections web site or through contacting us directly at (832) 442-2200.

Information Regarding Forward-Looking Statements

Certain statements contained in this release are forward-looking in nature, including statements related to the timing and amount of cash dividends; and the amount, timing and method of any stock repurchases under the stock repurchase program. These statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or comparable terminology, or by discussions of strategy. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward‑looking statements. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.