WMI pumps up dividend payment.(News; Waste Management Inc.)
Waste News, August, 2003
Byline: Jim Johnson America's largest solid waste management firm is dramatically increasing its yearly dividend payment to shareholders. Waste Management Inc. has been paying stockholders 1 cent per share per year, but will hike that to 75 cents per share annually - or 18.75 cents per quarter - starting next year.
"With passage of the new tax law regarding dividends, we felt a change in the allocation of capital is now appropriate,'' said A. Maurice Myers, chairman, president and CEO of the Houston-based company. The federal government cut taxes on dividends this year, making the payouts more attractive to companies and investors. Waste Management now expects to pay out about $450 million to shareholders each year through the dividend...
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