GFL Environmental Bumps Up Quarterly Dividend By 10%

GFL Environmental increased its quarterly cash dividend by 10% to $0.011 per share on the company’s subordinate and multiple voting shares.

GFL Environmental (GFL) announced that the new dividend will be paid on April 30 to shareholders of record as of April 19. Shares of the waste management company declined 1.8% to close at $34.63 on April 7.

The company’s annual dividend of $0.044 per share now reflects a dividend yield of 0.13%.

GFL Environmental is scheduled to report its first-quarter 2021 financial results on May 5, 2021. (See GFL Environmental stock analysis on TipRanks)

On April 7, Goldman Sachs analyst Jerry Revich initiated coverage of the stock with a Hold rating and a price target of $37 (6.8% upside potential) following the company’s acquisition spree but believes the shares are trading at a premium valuation.

The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 6 Buys and 4 Holds. The average analyst price target of $36 implies 4% upside potential to current levels. Shares have increased 55% over the past six months.

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