RALEIGH, N.C., Aug. 12 /PRNewswire-FirstCall/ -- Waste Industries USA,
Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services company,
today announced that its Board of Directors approved a quarterly dividend of
$0.08 per share payable on September 1, 2005 to shareholders of record at the
close of business on August 19, 2005. The Company also announced that its
Board of Directors will consider the payment of future dividends at the same
per share rate on a quarterly basis.
Jim Perry, President and CEO of Waste Industries, stated, "We are pleased
to be able to provide this additional return on our shareholders' investment
beyond our current semi-annual cash dividend and this dividend also reflects
our sustained cash flow for the quarter and year-to-date."
Jim Talton, Chairman of the Company's Audit Committee and Independent
Director, stated, "The Board authorized the quarterly dividend based on the
Company's sound financial position. The directors will consider continuing the
quarterly dividend as we review the Company's financial position, including
our operating profit model, balance sheet and access to growth capital. This
additional dividend reflects our continued confidence in Mr. Perry and his
management team to execute their strategy and to continue gains in operating
performance."
The Company also announced that on August 5, 2005 it acquired the assets
of Moriah Industries, LLC, a commercial front load and industrial collection
business in Rome, Georgia. The collection operation is a tuck-in acquisition
in the Company's current operations in Polk County, west of Atlanta, Georgia.
The Company plans to internalize all of the waste collected from this
acquisition into its Grady Road Landfill in Rockmart, Georgia.
Jim Auten, Vice President, Corporate Sales and Marketing, stated, "Not
only are we able to internalize this additional waste volume, but the
acquisition helps to improve our customer density and to further leverage our
general and administrative expenses."
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 Florida.
This press release contains forward-looking statements under the Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
generally be identified as such because the statement will include words such
as the Company "believes," "anticipates," "expects" or words of similar
import. Similarly, statements that describe the Company's future plans,
objectives or goals are also forward-looking statements. Forward-looking
statements are subject to risks and uncertainties, such as fuel prices,
economic trends, weather conditions, managing growth and risks in the
development and operation of landfills that could cause actual results to
differ materially from those currently anticipated. Consider these factors
carefully in evaluating the forward-looking statements. Additional
information concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is contained from time
to time in the Company's SEC filings.
SOURCE Waste Industries USA, Inc.
 back to top
Related links:
http://www.waste-ind.com
Company News On-Call:
http://www.prnewswire.com/comp/120685.html
CONTACT:
Carol Dalton of Waste Industries USA, Inc.,
+1-919-325-3000
|
