GFL Environmental Inc. Announces 10% Increase to Quarterly Dividend

Rhea-AI Summary

GFL Environmental Inc. (NYSE: GFL) announced a 10% increase in its regular quarterly cash dividend, raising it from US$0.012 to US$0.013 per share. This dividend will be paid on April 28, 2023, to shareholders recorded at the close of business on April 17, 2023. The Company has designated this as an eligible dividend under the Income Tax Act of Canada. GFL, headquartered in Vaughan, Ontario, ranks as the fourth largest diversified environmental services company in North America, employing over 19,500 staff. The Board of Directors retains discretion over future dividend payments, reflecting ongoing confidence in the Company's financial health and commitment to returning value to shareholders.

Positive

• 10% increase in the quarterly cash dividend from US$0.012 to US$0.013 per share.
• Dividends designated as eligible under Canadian tax laws.
• Solid financial health indicated by consistent dividend increases.

Negative

• None.

News Market Reaction – GFL

+0.62%

+0.62% Session move

In the trading session that priced this news, GFL gained 0.62%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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VAUGHAN, ON, April 6, 2023 /PRNewswire/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL" or the "Company") today announced that the Board of Directors of the Company has declared a 10% increase to the regular quarterly cash dividend on the Company's subordinate voting and multiple voting shares.

The regular quarterly cash dividend, which increases from US$0.012 per share to US$0.013 per share, will be paid on April 28, 2023 to shareholders of record at the close of business on April 17, 2023. The Company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).

About GFL

GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of solid waste management, liquid waste management and soil remediation services through its platform of facilities throughout Canada and in more than half of the U.S. states. Across its organization, GFL has a workforce of more than 19,500 employees.

Forward Looking Statements

This release includes certain "forward-looking statements", which are not guarantees or assurances of future performance. Because forward-looking statements are related to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. GFL undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws. The declaration, timing, amount and payment of any future dividends remains at the discretion of GFL's Board of Directors.  

For more information:
Patrick Dovigi
+1 905-326-0101
pdovigi@gflenv.com

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SOURCE GFL Environmental Inc.

FAQ

What is the new dividend amount for GFL Environmental Inc.?

The new dividend amount is US$0.013 per share.

When will GFL Environmental Inc. pay the dividend?

The dividend will be paid on April 28, 2023.

What is the record date for GFL's dividend payment?

The record date for the dividend payment is April 17, 2023.

Is GFL's dividend eligible under Canadian tax law?

Yes, the dividend is designated as an eligible dividend under the Income Tax Act in Canada.