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Waste Connections posts $576.8M yearly net profit

Waste Connections Inc. reported higher full-year net income for the year ending Dec. 31, 2017.

Net profit for 2017 rose 133.97% to $576.8 million from $246.5 million in the previous year, buoyed by benefit of $205.6 million attributable the new U.S. tax law. Revenues rose 37.17% year over year to $4.63 billion from $3.38 billion.

Adjusted EBITDA rose to $360.7 million from $325.4 million in the previous year. Basic EPS increased to $2.19 from 2016's $1.07, while diluted EPS increased to $2.18 from the prior year's $1.07.

The company also declared a dividend of 14 cents per share for the fourth quarter, payable March 14 to shareholders of record on Feb. 28, taking the full-year dividend to 50 cents per share.