By Adriano Marchese
Waste Connections Inc. on Wednesday reported a slight fall in fourth-quarter profit, and said that it expects double-digit percentage growth for dividends and share repurchases in the year.
The Toronto-based company's net income fell slightly to $130.7 million, compared with $133.3 million a year ago.
However, on a per-share basis, earnings were 50 cents, unchanged from the comparable quarter a year ago. Adjusted earnings were 68 cents a share.
Sales rose to $1.4 billion from $1.36 billion.
Looking ahead to 2021, the company expects a 5% solid waste price and volume growth, as well as a 50 basis-point margin expansion.
Net income is expected to be around $669 million on a revenue forecast of around $5.8 billion--a figure which excludes acquisitions.
Regarding dividends and share repurchases, the company said that it expects double-digit percentage increase in both.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
02-17-21 1646ET