Waste Management

Waste Management is the largest waste collection, recycling and disposal company in North America, operating an extensive network of landfills, transfer stations and collection routes. Long-term municipal contracts and high barriers to entry give it a stable, quasi-utility character with pricing power that tends to outpace inflation. The company has raised its dividend for decades, funded by steady, recession-resistant cash flow. The yield is moderate rather than high, but the combination of a defensive business and a long record of increases makes for a dependable income profile that appeals to conservative long-term investors.