Waste Connections, the solid waste services company headquartered in The Woodlands, raised its quarterly dividend 10% to $0.385 per share.
The company's board of directors approved the increase on Wednesday, Oct. 21, bumping the payout from $0.350 per share, according to a Business Wire press release. Shareholders of record as of Nov. 5 will receive the dividend on Nov. 19.
The hike marks the 16th consecutive year Waste Connections has delivered a double-digit annual increase to its quarterly cash dividend, President and Chief Executive Officer Ronald J. Mittelstaedt said in a separate earnings release.
The dividend news arrived alongside a strong third-quarter report. Revenue reached $2.638 billion, up from $2.458 billion in the same period last year, according to the company's Q3 2026 earnings release. Net income came in at $359.2 million, or $1.43 per diluted share, compared with $286.3 million, or $1.11 per share, a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $895.8 million, a 34% margin. Yahoo Finance reported the results beat Wall Street expectations on both revenue and profit.
Mittelstaedt pointed to improving landfill volumes and commodity-driven revenue as key drivers. "Our performance puts us firmly on track to exceed the increased full year 2026 outlook we provided in July for revenue and adjusted EBITDA," he said in the earnings release.
The company also raised its full-year 2026 revenue outlook to approximately $10.09 billion. It projected adjusted free cash flow between $1.40 billion and $1.45 billion. Year-to-date share repurchases topped $1 billion, covering about 2.5% of outstanding shares, according to the earnings release.
Waste Connections trades on the New York Stock Exchange and the Toronto Stock Exchange under the ticker WCN. The company serves approximately nine million customers across 46 states and six Canadian provinces.
The board reviews the quarterly dividend each October.
