Waste Management Raises Dividend 8%, 7th Straight Year of Increases

Date: December 16, 2010

Source: Waste Management, Inc.

Waste Management (Houston, TX) boosted its quarterly dividend by 8% to $0.34 per share in 2011, marking the seventh straight year of increases. It is expected to cost the company an extra $12 million per quarter. The new payout is expected to be made in March of 2011, although specific dates were not given. Like many other companies, Waste Management is returning more cash to shareholders rather than hiring in large scale.


INVESTOR RELEASE

Waste Management Announces Plan to Increase Quarterly Dividend Payments by 8%

  • Per Share Dividend to Increase from $1.26 to $1.36 on an Annual Basis

Waste Management, Inc. (NYSE: WM) today announced that its Board of Directors has approved an 8% increase in the planned quarterly dividend rate, from $0.315 to $0.34 per share. This marks the seventh consecutive year that the Company has increased its quarterly dividend. Actual future quarterly dividends must first be declared by its Board of Directors prior to payment.

"This announcement reflects our continued commitment to returning cash to our shareholders," said David P. Steiner, Chief Executive Officer of Waste Management, Inc. "Waste Management continues to produce consistent and strong cash flows, as evidenced by the dividend increase. The Board of Directors and management remain focused on being prudent and disciplined stewards of the Company's capital."

The Company noted that the Board of Directors intends to declare the first quarter 2011 dividend in February, at which time the record and payment dates for the first 2011 quarterly dividend will be announced. It is expected that the first payment of the increased dividend will occur in March of 2011.

Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the Company provides collection, transfer, recycling and resource recovery, and disposal services. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The Company's customers include residential, commercial, industrial, and municipal customers throughout North America.

For more information, contact:
Waste Management, Inc.
Analysts: Jim Alderson - 713.394-2281
Media: Lynn Brown - 713.394.5093
Web site: www.wm.com.

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