VAUGHAN, ON - GFL Environmental Inc. (NYSE: NYSE:GFL) (TSX: GFL), a North American leader in diversified environmental services, announced today a 10% increase in its regular quarterly cash dividend. The rise in dividend from US$0.013 to US$0.014 per share is set to benefit shareholders of record by the end of the business day on April 15, 2024, with the payment due on April 30, 2024.
This declaration marks a continued commitment to GFL's shareholders and is designated as an eligible dividend under the Income Tax Act (Canada). The decision to increase the dividend reflects the company's financial health and its board of directors' confidence in its business strategy.
GFL Environmental operates a substantial platform offering solid waste management, liquid waste management, and soil remediation services. With a workforce exceeding 20,000 employees, GFL asserts its position as the fourth largest environmental services company across North America, serving both Canada and more than half of the U.S. states.
InvestingPro Insights
GFL Environmental Inc.'s recent announcement of a 10% increase in its regular quarterly cash dividend is a testament to its commitment to shareholder returns. This move aligns with the company's history of increasing dividends, as highlighted by one of the InvestingPro Tips which notes that GFL has raised its dividend for four consecutive years. Moreover, analysts remain optimistic about the company's financial prospects, predicting that GFL will be profitable this year, a sentiment supported by another InvestingPro Tip which points out that GFL has been profitable over the last twelve months.
Looking at the real-time data from InvestingPro, GFL Environmental currently boasts a market capitalization of $12.52 billion USD. While the company trades at a high earnings multiple with an adjusted P/E Ratio for the last twelve months of -36.76, this could be indicative of investor confidence in its future earnings potential. Additionally, the company has experienced a solid revenue growth of 11.15% over the last twelve months, underscoring its operational success.
Investors should note that there are 7 additional InvestingPro Tips available, offering deeper insights into GFL's financial health and market position. For those seeking to expand their analysis, using coupon code PRONEWS24 will provide an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
It's also pertinent to acknowledge that the company's short-term obligations currently exceed its liquid assets, a point of consideration for investors focusing on liquidity and short-term financial stability. Nevertheless, the company's strong return over the last five years suggests a resilient long-term strategy.
As GFL Environmental continues to navigate the market with its diversified environmental services, the company's strategic decisions, including dividend increases and operational expansions, will be critical factors for investors to monitor.
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