Waste Management's dividend keeps rising, backed by strong cash flow, but volume decline poses a future risk.

Waste Management has increased its dividend annually since 2009, supported by robust free cash flow that covers dividends 2.6 times. The company reported a 20.7% rise in free cash flow in Q3 2026 and expects full-year cash flow near the top of its forecast. Pricing power from essential waste collection services and controlled leverage support continued dividend growth. However, a slight decline in waste volume, tracking near -1% for the year, is a key risk that could limit future dividend increases if it worsens.

Waste Management shares rose 2.51% to USD 236.70 on Pluang, with a dividend yield of 1.64% as of Oct 30, 2026 19:01 WIB. Despite strong dividend growth, most Pluang users are selling, with 96% of order activity on the stock being sell orders at that time.