RALEIGH, N.C., Aug. 10 /PRNewswire-FirstCall/ -- Waste Industries USA,
Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services
company, today announced that its Board of Directors declared a quarterly
dividend based on the Company's second quarter performance. The dividend of
$0.10 per share is payable September 1, 2006 to shareholders of record at
the close of business on August 25, 2006.
This dividend was declared in keeping with the Company's previously
announced annual dividend policy to consider paying cash dividends on a
quarterly basis and is an increase over the prior quarter's dividend rate.
The payment of future cash dividends under the Company's policy is subject
to the continuing determination by the Board of Directors that the policy
remains in the best interests of Waste Industries' shareholders and in
compliance with laws applicable to the declaration and payment of cash
dividends.
Jim W. Perry, President and Chief Executive Officer, stated, "We are
pleased to reward our shareholders with an 11% increase in the quarterly
dividend to $0.10 per share based on our strong performance in the second
quarter. Our Board of Directors believes the result of many of our
strategic initiatives has been a positive impact on our performance as
reflected in our recently announced second quarter earnings."
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, Georgia
and Mississippi.
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,
risks in the development and operation of landfills, weather conditions,
managing growth 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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