"Although Waste Management is a trash-hauling behemoth today, it had humble beginnings. Harm Huizenga began picking up garbage in Chicago in 1893 for $1.25 per wagonload. About 75 years later, his grandson Wayne Huizenga resurrected the family business, founded Waste Management, and quickly undertook a growth-by-acquisition strategy, buying up hundreds of small trash collection services across the country. Those days are long gone."
"The stock has generated total returns of more than 1,050% over three decades, compared to an almost 990% return by the S&P 500. The trash hauler began paying a dividend when the two companies merged, and it has consistently increased the payout every year since 2004. Since then, the dividend has grown from $0.75 per share to $3.30 per share, and it has raised the payout by a compound growth rate of 7.2% annually for the past 10 years."
Shares of Waste Management reached a $242.58 all-time high in June and have declined 20.9% since then. Year-to-date the stock is fractionally lower and has underperformed the S&P 500 while maintaining defensive characteristics with 84% institutional ownership. The company traces roots to Harm Huizenga picking up garbage in Chicago in 1893 and expanded under Wayne Huizenga through aggressive acquisitions. U.S. Waste Services acquired the original Waste Management in 1998 and adopted the Waste Management name. Over three decades the stock delivered total returns exceeding 1,050%, versus roughly 990% for the S&P 500. The dividend began after the merger and has been increased every year since 2004, rising from $0.75 to $3.30 per share with a 10-year compound annual growth rate of 7.2%. The company’s essential service profile underpins its stability across market conditions.
Read at 24/7 Wall St.
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