Waste Management, Inc. Announces Dividend; Authorizes Share Repurchases; Issues FY 2012 EPS Guidance In Line With Analysts' Estimates

Waste Management, Inc. announced its intention to increase the dividend to $1.42 per share on an annual basis, at an approximate cost of $665 million. The Company also announced that its Board has authorized up to $500 million in share repurchases. The Company expects fiscal 2012 adjusted earnings per diluted share (EPS) to be between $2.22 and $2.30. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.29 for fiscal 2012.