Date: May 18, 2006
Source: PR Newswire
Waste Industries USA, Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services company, today announced that it has adopted a policy under which it intends to pay an aggregate annual cash dividend of $0.36 on each outstanding share of common stock. The annual dividend will be payable quarterly at a rate of $0.09 per share. In addition, it declared in the second quarter, a cash dividend based on first quarter performance under this annual dividend policy. The record date for the second quarter 2006 cash dividend is June 1, 2006, and the payment date for that dividend is June 15, 2006. The annual cash dividend policy and the payment of future cash dividends under that policy are subject to the continuing determination by the board of directors that the policy remains in the best interests of Waste Industries' shareholders and compliance with laws applicable to the declaration and payment of cash dividends.
"The strength of our current balance sheet and our confidence in the future prospects for the Company prompted the board of directors to adopt the annual cash dividend policy," said Jim W. Perry, President and Chief Executive Officer. "We are pleased to be able to reward our shareholders in this fashion and remain committed to implementing strategic initiatives aimed at creating long-term shareholder value."
Waste Industries USA, Inc. is a vertically integrated solid waste services company that provides collection, transfer, disposal and recycling services to commercial, industrial and residential customer locations in the states of North Carolina, South Carolina, Virginia, Tennessee, Mississippi and Georgia.
For more information, contact:
Carol Dalton of Waste Industries USA, Inc.