Date: December 5, 2011
Source: Waste Connections, Inc.
Waste Connections, Inc. (Folsom, CA) said its board authorized a $400 million increase to its stock repurchase program, growing the amount from $800 million to $1.2 billion. The authorization extends the term of the program through Dec. 31, 2014. As of Sept. 30, the company had up to about $65 million remaining in shares available for repurchase. The program gives management the authority to repurchase company shares pursuant to a Rule 10b5-1 plan or in open market or privately negotiated transactions at their discretion.
December 5, 2011
Waste Connections Increases Stock Repurchase Program
Waste Connections, Inc. (NYSE: WCN) today announced that its Board of Directors has authorized a $400 million increase to its ongoing common stock repurchase program, increasing the total authorized amount the Company may repurchase from $800 million to $1.2 billion. The Board also extended the program's term through December 31, 2014. As of September 30, 2011, the remaining maximum dollar value of shares available for repurchase under the program was approximately $65 million. Stock repurchases may be made pursuant to a Rule 10b5-1 plan or in open market or privately negotiated transactions from time to time at management's discretion. The timing and amounts of any repurchases will depend on many factors, including the Company's capital structure, acquisition activity, the market price of the common stock and overall market conditions.
Waste Connections, Inc. is an integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets. The Company serves more than two million residential, commercial and industrial customers from a network of operations in 29 states. The Company also provides intermodal services for the movement of containers in the Pacific Northwest. Waste Connections, Inc. was founded in September 1997 and is headquartered in Folsom, California.
For more information, visit the Waste Connections web site at www.wasteconnections.com.
Certain statements contained in this press release are forward-looking in nature, including statements related to the amount, timing and method of any stock repurchases under the stock repurchase program. Waste Connections' business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. These risks and uncertainties, as well as others, are discussed in greater detail in Waste Connections' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. There may be additional risks of which Waste Connections is not presently aware or that it currently believes are immaterial which could have an adverse impact on its business. Waste Connections makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.
For more information, contact:
Waste Connections, Inc.
Worthing Jackman, (916) 608-8266