RALEIGH, N.C., May 18 /PRNewswire-FirstCall/ -- Waste Industries USA,
Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services
company, today announced that it has adopted a policy under which it
intends to pay an aggregate annual cash dividend of $0.36 on each
outstanding share of common stock. The annual dividend will be payable
quarterly at a rate of $0.09 per share. In addition, it declared in the
second quarter, a cash dividend based on first quarter performance under
this annual dividend policy. The record date for the second quarter 2006
cash dividend is June 1, 2006, and the payment date for that dividend is
June 15, 2006. The annual cash dividend policy and the payment of future
cash dividends under that policy are subject to the continuing
determination by the board of directors that the policy remains in the best
interests of Waste Industries' shareholders and compliance with laws
applicable to the declaration and payment of cash dividends.
"The strength of our current balance sheet and our confidence in the
future prospects for the Company prompted the board of directors to adopt
the annual cash dividend policy," said Jim W. Perry, President and Chief
Executive Officer. "We are pleased to be able to reward our shareholders in
this fashion and remain committed to implementing strategic initiatives
aimed at creating long-term shareholder value."
Waste Industries USA, Inc. is a vertically integrated solid waste
services company that provides collection, transfer, disposal and recycling
services to commercial, industrial and residential customer locations in
the states of North Carolina, South Carolina, Virginia, Tennessee,
Mississippi and Georgia.
This press release contains forward-looking statements under the
Private Securities Litigation Reform Act of 1995 about expectations and
assumptions about the payment of future dividends. The Company's cash
dividend policy and the payment of future cash dividends under that policy
are subject to the continuing determination by the Board of Directors that
the policy remains in the best interests of the Company's shareholders and
in compliance with laws applicable to the declaration and payment of cash
dividends and financial and other covenants contained in the Company's
revolving credit facility. Factors that could affect the Board's decision
on dividends include risks and uncertainties that could affect the
Company's operations, such as increases in fuel prices, economic trends,
weather conditions, managing growth, risks in the development and operation
of landfills and other risks set forth from time to time in the Company's
SEC filings.
SOURCE Waste Industries USA, Inc.
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Related links:
http://www.waste-ind.com/
http://www.prnewswire.com/comp/120685.html /
CONTACT:
Carol Dalton of Waste Industries USA, Inc.,
+1-919-325-3000
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