WM raises quarterly dividend 14.5%, authorizes new $3B stock buyback

WM (WM) announced that its Board of Directors has approved a capital allocation program that includes a planned 14.5% increase in the 2026 dividend rate and a new $3B share repurchase authorization, superseding the authority remaining under the prior $1.5B repurchase authorization announced in 2023. The planned quarterly dividend rate of 94.5c per share in 2026, up from 82.5c per share in 2025, marks the twenty-third consecutive year of dividend increases and raises the annual dividend rate to $3.78 per share. “Our business continues to generate strong, predictable cash flow that fuels shareholder returns and supports our disciplined approach to capital allocation,” said Jim Fish, Chief Executive Officer of WM. “In recent years, we’ve made intentional investments to drive organic growth, particularly in our recycling and renewable energy businesses, and we are entering a period of harvesting the strong returns from those investments and earnings growth in our business. We are well positioned to return approximately 90% of 2026 free cash flow to shareholders through dividends and share repurchases while at the same time continuing our focus on organic growth, maintaining strong investment grade credit ratings and targeting between $100 and $200 million in tuck-in acquisitions.”