Waste Connections Announces 24.1% Increase In Regular Quarterly Cash Dividend
Oct 26, 2016
TORONTO, Oct. 26, 2016 /PRNewswire/ -- Waste Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections" or the "Company") today announced that its Board of Directors has declared a 24.1% increase in the regular quarterly cash dividend on the Company's common shares. The regular quarterly cash dividend, which increases from $0.145 U.S. per common share of the Company to $0.18 U.S. per common share of the Company, will be paid on November 21, 2016, to shareholders of record on the close of business on November 7, 2016. The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount of the dividend.
Shareholders of Waste Connections whose common shares are held by a bank or broker that participates in U.S. depositary DTC will receive payment of their dividends in U.S. dollars. Shareholders of Waste Connections whose common shares are held by a bank or broker that participates in Canadian depositary CDS will receive payment of their dividends in Canadian dollars, calculated based on the Bank of Canada's noon exchange rate on November 7, 2016. Shareholders of Waste Connections who hold their shares in direct registration with Computershare, the Company's transfer agent, will receive payment of their dividends in Canadian dollars if they are residents of Canada, as reflected in Waste Connections' shareholders register, and will receive their dividend payments in U.S. dollars if they are not residents of Canada, including if they are residents of the U.S.
All dividends paid by Waste Connections on its common shares will be designated as "eligible dividends" for Canadian income tax purposes. This designation will apply until a notification of change is posted on Waste Connections' website.
About Waste Connections
Waste Connections is an integrated solid waste services company that provides waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets in the United States and Canada. Through its R360 Environmental Solutions subsidiary, Waste Connections 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 six million residential, commercial, industrial, and exploration and production customers in 40 states and the District of Columbia in the U.S., and six provinces in Canada. Waste Connections also provides intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest.
For more information, visit the Waste Connections web site at www.wasteconnections.com. Copies of financial information, including this release, are available on the Waste Connections website or through contacting us directly at (832) 442-2200.
Safe Harbor and Forward-Looking Statements
This press release contains forward-looking statements (which include "forward-looking information" as that term is defined in applicable securities laws in Canada) within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements are neither historical facts nor assurances of future performance and reflect Waste Connections' current beliefs and expectations regarding future events and operating performance. These forward-looking statements are often identified by the words "may," "might," "believes," "thinks," "expects," "intends" or other words of similar meaning. All of the forward-looking statements included in this press release are made pursuant to the safe harbor provisions of the PSLRA and applicable securities laws in Canada. Forward-looking statements involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements about the timing and amount of cash dividends. Events or circumstances that could cause actual results to differ materially from those in the forward-looking statements, include, but are not limited to: the possibility that any of the anticipated benefits of the combination of the Company and Waste Connections US, Inc. (f/k/a Waste Connections, Inc.) will not be realized, general economic, market and business conditions, and other risk factors detailed from time to time in filings that have been made by the Company (including, under its former name, Progressive Waste Solutions Ltd.) and by Waste Connections US, Inc. (including, under its former name, Waste Connections, Inc.) with the Securities and Exchange Commission and the securities commissions or similar regulatory authorities in Canada. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. Waste Connections undertakes no obligation to update the forward-looking statements set forth in this press release, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws.
Worthing Jackman / (832) 442-2266
Mary Anne Whitney / (832) 442-2253
SOURCE Waste Connections, Inc.