GFL Environmental Inc. said on July 6, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.05 annualized). Previously, the company paid $0.01 per share.
Shareholders of record as of July 17, 2023 will receive the payment on July 31, 2023.
At the current share price of $37.11 / share, the stock's dividend yield is 0.14%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.16%, the lowest has been 0.11%, and the highest has been 0.35%. The standard deviation of yields is 0.05 (n=156).
The current dividend yield is 0.49 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.02%.
What is the Fund Sentiment?
There are 382 funds or institutions reporting positions in GFL Environmental Inc.. This is an increase of 35 owner(s) or 10.09% in the last quarter. Average portfolio weight of all funds dedicated to GFL is 0.64%, an increase of 32.75%. Total shares owned by institutions increased in the last three months by 2.11% to 251,774K shares. 
The put/call ratio of GFL is 0.08, indicating a bullish outlook.
Analyst Price Forecast Suggests 0.53% Upside
As of June 2, 2023, the average one-year price target for GFL Environmental Inc. is 37.31. The forecasts range from a low of 23.47 to a high of $48.01. The average price target represents an increase of 0.53% from its latest reported closing price of 37.11.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for GFL Environmental Inc. is 7,507MM. The projected annual non-GAAP EPS is 0.69.
What are Other Shareholders Doing?
BC Partners Advisors holds 53,784K shares representing 14.57% ownership of the company. No change in the last quarter.
Ontario Teachers Pension Plan Board holds 43,661K shares representing 11.83% ownership of the company. No change in the last quarter.
Massachusetts Financial Services holds 8,398K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 8,065K shares, representing an increase of 3.96%. The firm decreased its portfolio allocation in GFL by 81.56% over the last quarter.
Royal Bank Of Canada holds 6,654K shares representing 1.80% ownership of the company. In it's prior filing, the firm reported owning 5,766K shares, representing an increase of 13.34%. The firm decreased its portfolio allocation in GFL by 85.40% over the last quarter.
Nordea Investment Management Ab holds 6,041K shares representing 1.64% ownership of the company. In it's prior filing, the firm reported owning 6,290K shares, representing a decrease of 4.12%. The firm decreased its portfolio allocation in GFL by 0.59% over the last quarter.
GFL Environmental Background Information
(This description is provided by the company.)
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in 27 states in the United States. Across its organization, GFL has a workforce of more than 13,000 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.
Additional reading:
- GFL Environmental Inc. Announces Quarterly Dividend
- GFL Environmental Inc. Sets Date for Q2 2023 Earnings Release
- GFL Environmental Inc. Accelerates Balance Sheet De-Leveraging with Substantial Completion of Previously Identified Divestitures
- GFL Environmental Inc. Subordinate Voting Shares Underwriting Agreement
- Dear Sirs/Mesdames:
This story originally appeared on Fintel.
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