RALEIGH, N.C., Nov. 11 /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 semi-annual dividend.
The semi-annual dividend of $0.08 per share is payable December 19, 2003 to
shareholders of record at the close of business on November 21, 2003.
"We are pleased to be able to provide a return on our shareholders'
investment by initiating this cash dividend," said Jim Perry, President and
CEO of Waste Industries, "which we believe also will provide us greater
visibility in the larger investing community." Mr. Perry added, "The Board
authorized the semi-annual dividend based on the Company's sound financial
position."
Mr. Paul Brunswick, Waste Industries' Chairman of the Audit Committee and
Independent Director stated, "The independent directors have given a lot of
thought and consideration to the initiation of a dividend over the last few
quarters. We concluded that our current operating profit model, balance sheet
and access to growth capital justified the approval of this recommendation.
Essential in our consideration was our confidence in Mr. Perry and his
management team to execute their strategy and to continue gains in operating
performance. We felt that the performance achieved in the past few years in
very difficult economic times justified this confidence."
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, 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 economic trends,
risks in the development and operation of landfills, managing growth and
weather conditions 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. The forward-looking statements made herein are only made as of the
date of this press release and the Company undertakes no obligation to
publicly update such forward-looking statements.
SOURCE Waste Industries USA, Inc.
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Company News On-Call:
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CONTACT:
Carol Dalton of Waste Industries USA, Inc.,
+1-919-325-4000, ext. 3008
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